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Skip Navigation LinksHome :: Central and Eastern Europe :: Economy minister estimates GDP growth at 8% y/y in H1.

Friday, August 15, 2008

Economy minister estimates GDP growth at 8% y/y in H1.





Economy minister estimates GDP growth at 8% y/y in H1. Economy and finance minister Varujan Vosganian estimates the GDP growth at 8% y/y in H1 referring to a 33% rise in the gross fix capital formation. GDP increased by 8.2% y/y in Q1, thus the growth rate must have been slightly below 8% y/y in Q2. Gross fix capital formation increased by 28% y/y in Q1 and thus it must have accelerated to unprecedented rate above 33% y/y in Q2. The gross fix capital formation has indeed gradually accelerated from 20% y/y in 2006 to 30% y/y in 2007 and it will exceed 33% y/y this year according to minister Vosganian. The state forecasting body considers upgrading projections for full year GDP growth by 1pps to 7.5%.







As I seek to add some eloquence to our track record in support of our claim to be worthy winners, I can only quote Aristotle’s definition of excellence to you: ‘We are what we repeatedly do. Excellence is not an act but a habit’  

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