IMF forecasts Armenia's GDP will grow 11% in 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