IMF FORECASTS ARMENIA’S GDP WILL GROW 11% IN 2006

Interfax Russia
Dec 13 2006

YEREVAN. Dec 13 (Interfax) – The International Monetary Fund
is forecasting that Armenian GDP will grow 11% compared with a
planned growth in the budget of 7.5%, Nienke Oomes, IMF permanent
representative in Armenia, said at a Wednesday press conference.

GDP will be $6.114 billion in nominal terms in 2006 and per capital
GDP will be $1,882, he said.

The Armenian budget deficit is forecast at 2.3% of GDP in 2006, budget
revenue at 17.4% of GDP and spending at 19.7% of GDP, Oomes said.

Armenian GDP grew 13.1% year-on-year to 2.033 trillion dram in
January-October 2006. GDP grew 13.9% in 2005.

The official exchange rate on December 13 was 365.11 dram/$1.