GDP TO REDUCE 5% IN ARMENIA IN 2009

/ARKA/
April 23, 2009
YEREVAN

The Gross Domestic Product (GDP) is to reduce by 5% in Armenia this
year, says the report of the International Monetary Fund on prospects
of world economic development in April 2009.

0% economic growth is expected in the country in 2010, the IMF
experts say.

According to the report, a 3.4% reduction in GDP is expected in
Moldova. The IMF forecasts GDP growth in some CIS countries –
Uzbekistan (7%), Tajikistan (2%), Georgia (1%) and Kyrgyzstan (0.9%).

Consumer prices are to grow by 3.6% in Armenia in 2009 and by 7.2%
in 2010.

The lowest growth of consumer prices among CIS countries is to be
recorded in Moldova – 2.6% in 2009 and 4.7% in 2010.

Highest growth of consumer prices is expected in Uzbekistan – 12.5%
in 2009 and 9.5% in 2010.

The report also says that the global economy is in deep recession
due to a large-scale financial crisis and dramatic decline in
confidence. Yet, economic decline rates are expected to slow down as
from the second quarter.

Global production output is to reduce by 1.3% in 2009 and to then
gradually grow by 1.9% throughout 2010.

According to the revised program of the Central Bank of Armenia (CBA)
on monetary and credit policy for the first quarter 2009, the GDP
is to decline by 3% in real terms in Armenia in 2009. Inflation is
expected to be 5.9% in Armenia by the end of 2009.

According to the state budget of Armenia, 9.2% GDP growth is expected
in 2009.