WORLD BANK ON ARMENIAN ECONOMY STABILISATION
The Messenger
June 10 2009
Georgia
Armenia’s economy has declined 9.7% in the first four months of 2009
compared with the same period last year. However the World Bank’s
Yerevan office thinks the Armenian economy will begin to stabilise
by the end of this year and from 2010 will be growing again.
It is difficult to make absolutely correct prognoses on such matters
in the midst of a world economic crisis and when the Armenian
economy relies so much on Russia’s, which has been severely damaged
by the crisis. The falling prices of oil has hit it particularly
hard. However, although Russia is still in deep crisis, if things
start improving this will definitely affect the Armenian economy in
a positive way.