ARMENIAN PREMIER FORECASTS 2% ECONOMIC UPTURN IN ARMENIA IN 2010
ARKA
June 9, 2009
YEREVAN, June 9. /ARKA/. Armenia is likely to post a 2% economic growth
in 2010, RA Prime Minister was quoted as saying on Tuesday. "We have
been too cautious when making 2010 forecasts.
We will draw a budget with an economic upturn of around 2% and up to 6%
deficit," RA Prime Minister Tigran Sargsyan was quoted saying during
the EurAsEc meeting in Moscow.
According to the premier, Armenia has not yet felt the strong impact
of the global economic downturn.
"The Central Bank and Government have expanded their policy. We have
increased sharply this year’s budget deficit that is forecast to
reach 7%, with inflation remaining low," Sargsyan said, ruling out
inflationary pressure in 2009. "We will end this year with around 5%
inflation," the premier added.
The premier stressed that the RA Government’s anti-crisis measures are
similar to those undertaken in other member-states of EurAsEc. "Though
these measures help alleviate the impact of the global financial and
economic crisis, they cannot totally eliminate it," the prime minister
said, adding the Armenian government would make further efforts to
boost the country’s economy.
Armenia posted a 9.7% year-on-year economic downturn between January
and April 2009, with GDP totaling 638,939.3mln drams.