AMERIABANK FORECASTS NEGATIVE GDP GROWTH IN ARMENIA

/ARKA/
April 20, 2009
YEREVAN

Ameriabank (Armenia) forecasts negative GDP growth in Armenia for
this year.

"The GDP will range from negative 5% to positive 3% in Armenia this
year," Ameriabank Director General Artak Anesyan told reporters.

If inflation is curbed in future as well, it may range within 8%
by the end of this year.

According to a specified monetary policy program of the Central Bank
of Armenia (CBA) for the 1st quarter of this year, a decrease of 3%
in GDP is expected in Armenia this year. An inflation rate of 5.9%
is forecast in Armenia for the end of this year.

The RA Statistical Service reports that an inflation rate of 2%
was registered in Armenia this January-March as compared with
the corresponding period last year. An inflation rate of 0.7% was
registered this January-March against last December.

An inflation rate of 4% is budgeted in Armenia for this year.