WORLD BANK FORECASTS 9-9.5% ECONOMIC DECLINE IN ARMENIA IN 2009

ArmInfo
2009-06-12 13:45:00

ArmInfo. The World Bank forecasts a 9-9.5% economic decline in Armenia
in 2009 and a 1.5-2% growth in 2010, Aristomene Varoudakis, Director
of WB Yerevan Office, told media on Friday.

He said the country still suffers economic decline but the situation
may become more stable in the second half of 2009 and certain growth
will be observed in 2010. A. Varoudakis forecasts higher growth rates
of GDP in 2011-2012 though much will depend on the global economic
trends. GDP decline in Armenia for Jan-Apr 2009 totaled 9.7%.