BY THE END OF THE YEAR ARMENIA’S ECONOMY TO START REHABILITATE
/PanARMENIAN.Net/
22.05.2009 17:12 GMT+04:00
/PanARMENIAN.Net/ By the end of this year Armenia’s economy to start
stabilizing, told a news conference Gagik Minasyan, chairman of the
NA Standing Committee on Finance-Credit, Budget and Economic Affairs
and deputy from RPA.
According to him, currently a very interesting situation has been
created not only in Armenia, but in the whole world. Economic decline
seems to approach its peak and we are likely to overcome it in the
nearest times," said Mr. Minasyan.
According to the forecast of international agencies, the world economy
will start stabilizing at the beginning of the forth quarter of 2009,
and it means Armenia’s economy will start rehabilitating at the end
of the forth quarter, NA deputy told.
As Mr.Minasyan explained, since Armenia has experienced the impact
of the world crisis later than other countries, therefore the
rehabilitation of Armenian economy will become later. "Armenian
reality lags behind of the world, therefore our the rehabilitation
of economy will be behind the world," Minasyan said.
The economic performance of four month seem to affirm that
assumption. Over the first four month the GDP has reduced by 9.8 per
cent, and decline has been observed in the all spheres of economy,
particularly, in the construction industry. The average monthly salary
grew by 13 per cent, and 3,9 per cent of inflation has been recorded
for the mentioned period due to devaluation of the Armenian Dram.
As Mr.Minasyan mentioned, this situation is consonant to the state
of European countries, where the decline reached 5 per cent for
a three-month period. He added, that Baltic countries experienced
two-figured recession.