WORLD BANK RECOMMENDS TO DIVERSIFY ARMENIAN ECONOMY STRUCTURE

ArmInfo
2009-07-03 12:35:00

ArmInfo. In 2010 the economy growth by 1-2% is expected in Armenia
after its falling by 9-10% at the end of 2009, Manager of the WB
Yerevan Office, Aristomene Varoudakis, said at the press-conference
in Yerevan, Friday.

He also added that the registered falling of the GDP by 15,7% over
five months of 2009 will mellow by the end of the year. Such a sharp
falling is conditioned by the fact that during the same period of 2008
high rates of economy growth were fixed in Armenia, he explained. The
main reason of the falling is sharp reduction of the construction
volumes because of the crisis, the share of which is 30% in the GDP
structure. It is necessary to diversify the economy structure and to
lead to export so that to ensure further development of economy. At
present because of the export falling the current deficit of the
payment balance of the country is growing and the construction sector
cannot keep it, Varoudakis said. He also recommended the government
to raise external marketability and productivity in the economy of
the country.

From: Emil Lazarian | Ararat NewsPress