9.7% year-on-year economic decline in Armenia in Jan-Apr 2009

9.7% year-on-year economic decline in Armenia in Jan-Apr 2009

YEREVAN, May 31. /ARKA/. National Statistical Service of Armenia says
the country’s economy declined 9.7% in Jan-Apr 2009, compared with the
same period of the previous year.

According to the statistical report, GDP amounted to AMD 638939.3
million in current prices and index-deflator was recorded at 101.8%.

The report says that 8.2% gross added value in Jan-Apr 2009 (against
5.7% at the same period a year earlier) curbed real GDP growth by 6.9%,
and reduction in tax receipts, excluding subsidies, by 17.6% in Jan-Apr
2009(against 33.5% growth recorded at the same period of 2008) curbed
GDP growth by 2.8 percentage points in Jan-Apr 2009 (against the 4.4%
added to growth at the same period of the previous year).

The statistical report also says that 42% decline in construction
sector curbed GDP growth by 5.1 percentage points (against two percent
added to GDP growth in Jan-Apr 2008).

According to the report, 11.2% industrial decline (including energy
area) left GDP without 2.3 percentage points in Jan-Apr 2009, while at
the same period of the previous year the industry added nothing to GDP
growth.

Four-percent decline in agriculture, forestry and fishery took
0.3percentage points from GDP growth in Jan-Apr 2009, while a year
earlier they added 0.1 points to the growth.

The 0.4% decline recorded in financial and real estate sectors in
Jan-Apr 2009 had no impact on GDP growth, while a year earlier these
sectors added one percent to it.

Gross added value made 85.7% of GDP in Jan-Apr 2009 against 84.2% in
Jan-Apr 2008. Industry, including energy, made 17.2% against 20.3% a
year earlier.

Share of agriculture, forestry and fishery in GDP was 8.3% and
construction 9.3%, and trade, car, transport sectors 25.4% and services
as a whole 54.6% in Jan-Apr 2009.
Taxes (excluding subsidies) made 14.3% of GDP.

Per-capita GDP amounted to AMD 197,301 or $585 (?¬448).Armenia recorded
9.3% economic growth in Jan-Apr 2008. The Government planned 9.2% GDP
growth in the 2009 state budget. ($1 = AMD 370.89). –0′

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS