ARMENIANS OPTIMISTIC ABOUT COUNTRY’S ECONOMIC PROSPECTS: GTI POLL

ARKA
Feb 13, 2009

YEREVAN, February 13. /ARKA/. Armenia is among the 11 states that
remain optimistic about their economic prospects, Grant Thornton
International, one of the world’s largest accounting and consulting
firms, says in its International Business Report (IBR).

India (+83%) tops the list of the 11 countries, followed by Botswana
(+81%), Brazil (+50%) and Armenia (+46%).

The International Business Report (IBR), formerly known as the
International Business Owners Survey (IBOS), provides insight into
the views and expectations of over 7,200 privately held businesses
across 36 economies, said Gurgen Hakobyan, GTA ( Grant Thornton Amyot)
partner.

The report explores the continued emergence of corporate social
responsibility, global trends in recruitment and retention issues,
investing in global growth markets and trends in mergers and
acquisitions.

The results of the report has shown that optimism among privately held
businesses has slumped by 56% to a record low of 16% compared to +40%
in 2008, with pessimistic forecast prevailing over optimistic ones.

Of the four largest trading nations, the United States and China,
who together contribute over 32% of global GDP, scored their optimism
at -34% in the United States but +30% in mainland China. Similarly,
Japan and India (collectively contributing over 11% of global GDP)
scored their optimism at -85% and +83% respectivel y.

According to Alex MacBeath, global leader of privately held business
services, "these polarised results suggest there are still pockets
of hope in the global marketplace and it is no coincidence that PHBs
are some of the first to realise."

With entrepreneurs across the world getting ready for a long-lasting
downturn, theirs colleagues from developed countries realize that on
the micro-level, those economic challenges offer ample opportunities,
he said.

PHBs in 33 out of the 36 economies cited a fall in consumer demand with
a shortage of business credit a secondary concern, Alex MacBeath added.

"The economies in our survey contribute 81% of global GDP. If
politicians were in any doubt about the need to take steps to boost
consumer spending and kick start the global economy this overwhelming
consensus from PHBs should surely persuade them," the expert was
quoted saying.

The research is carried out by Experian Business Strategies. For
each filled in report form, GTI donates $5 to UNICEF, with overall
donations reaching $39,000.