HEAD OF WORLD BANK OFFICE IN ARMENIA: IN 2010 POVERTY LEVEL IN ARMENIA MAY RISE BY 4-6%

ArmInfo
2009-05-29 18:48:00

ArmInfo. In 2010 the poverty level in Armenia may rise by 4-6%,
Head of the World Bank Office in Armenia Aristomene Varoudakis said,
Friday. Armenia faces serious difficulties called by the crisis –
the economic downturn from January till April 2009 made up almost
10%. He expressed hope that the programmes implemented with WB
participation will be able to support Armenia’s economy and bring
tangible results in 2010. At the same time, Varoudakis positively
estimated the government’s full protection of social expenditures of
the budget despite the difficult economic situation.

To recall, expert of the World Bank Lire Ersado has predicted poverty
growth in Armenia, according to which in 2010 this indicator may
grow from the present 22,7% up to 27,9% (906 thsd people). The
level of extreme poverty may grow from 3,2% in 2008 up to 8,7%
(297 thsd people). He thinks that possible growth of the poverty
level is conditioned by the risk of the transfers volume reduction
by 21,6%, exchange rates fluctuation – by 16,4% and by the labor
market conditions – by 61,9% . According to representatives of the
World Bank, such prediction may change if Armenian government takes
coordinated steps to resist the crisis.

From: Emil Lazarian | Ararat NewsPress