ARMENIA’S ECONOMY SHRUNK BY 15.7 PER CENT OVER JANUARY-MAY THIS YEAR
/PanARMENIAN.Net/
19.06.2009 19:24 GMT+04:00
/PanARMENIAN.Net/ Armenia’s GDP reduced by 15.7 per cent in January-May
this year compared to the same period of previous year and amounted
839 billion 356.6 million AMD. The reduction was only 9.7 per cent for
the first 4 month of 2009, the RA National Statistical Service reports.
The sharpest decline, equial to 56.1 per cent was recoded in the
construction industry, the industrial production decreased by 10.5 per
cent, agriculture deceased by 2.9 percent, services reduced by 1.7 per
cent. Simultaneousely, retail trade increased by 0.2 per cent. 2.5 per
cent inflation was recorded in January – May in Armenia as compared
to the same period of previous year. Consumer prices grew by 5.5 per
cent over January- May as compared to December, 2008 level.