ARMENIA’S MACROECONOMIC SITUATION SHIELDS FROM CRISIS: MINISTER
ARKA
Dec 15, 2008
GYUMRI, December 15. /ARKA/. Armenia’s macroeconomic situation can
alleviate the impact of the global financial crisis on the country,
RA Minister of Economy Nerses Yeritsyan said in Gyumri on Friday.
"Armenia’s stable macroeconomic situation and economic background,
as well as the small budget deficit and debt enable the country to
carry out development programs," the minister was quoted saying.
Alongside with carrying out its anti-crisis program, Armenia is making
rogress, Yeritsyan added.
He did not rule out possible crisis bites into Armenia’s economy,
saying the current macroeconomic rates enable the country to advance.
Armenia saw 9.2% year-on-year economic growth between January and
Ocotber 2008, with annual inflation being 6.6%.
The country’s budget surplus reached 10.8bln drams in October,
against forecasted deficit of 26.7bln drams.
Armenia’s foreign trade turnover rose 31.5% year-on-year to 1,381.8bln
drams ($4,520.4mln) between January and October 2008.