ECONOMIC SLUMP IN ARMENIA MAY EXCEED 16%

/PanARMENIAN.Net/
07.07.2009 12:10 GMT+04:00

/PanARMENIAN.Net/ Armenian Prime Minister Tigran Sargsyan said economic
slump in the republic may exceed 16%.

"The slump is conditioned by problems in construction industry,
which has a multiplicative impact on all other sectors of economy,"
Mr. Sargsyan said during "Impact of the Global Crisis on Armenia:
Short- and Long-run Perspectives" international conference.

"We expect deterioration in the coming months but the situation may
improve by the yearend," he said.

The economic slump in Armenia made 15.7% during the period from
January to May. The slump in construction industry reached 56.1%.