NEARLY 70% ARMENIAN POPULATION HAVE ALREADY FELT NEGATIVE IMPACT OF CRISIS ON THEIR OWN INCOMES

Noyan Tapan
May 8, 2009

YEREVAN, MAY 8, NOYAN TAPAN. The Economy and Values Research Center in
April-May conducted study Situational Estimation of Economic Crisis
Impact on Armenia’s Economy. The study results were presented at a
May 6 press conference. According to Center Chairman Manuk Hergnian,
study’s goal was to reveal the economic crisis impact on households,
enterprises, and macroeconomic system. He said that 1000 households
and 60 small and big companies operating in Armenia took part in
the survey.

According to the study results, nearly 70% Armenia’s population have
already felt negative impact of the crisis on their own incomes. 44%
households had decrease of incomes, 15% salary delays, 11% appeared
in a forced state of standing idle, and 7% lost their jobs.

Reduction of incomes were recorded mainly in 11-25% households, at
that, the reduction level was the biggest in Yerevan, where nearly
40% respondents said that their families’ incomes were reduced by
26-50%. Nearly 30% households plan to reduce or to delay expenditures
made on communication, goods of long-term use, and rest. And more
than 80% are likely to start giving preference to cheap, affordable
goods. Only 20% households are sure that the crisis will be overcome
in a short time and nearly the half predicts further worsening of
the economic condition.

From: Emil Lazarian | Ararat NewsPress