ARMENIAN PM SAYS GDP DECLINE COULD RANGE FROM 9.5%-20% IN 2009
Interfax
July 7 2009
Russia
Armenian Prime Minister Tigran Sarkisian has said there are three
scenarios for the country’s economic development in 2009 under which
GDP could decline by 9.5%, 16% or 20%.
Speaking at a conference on Tuesday, he said economic results are
expected to worsen in coming months.
"The country’s GDP will continue to contract in the coming months.
We only expect results to start improving at the end of the year," he
said, adding that the budget for 2010 envisions a 1% increase in GDP.
The Armenian economy declined 15.7% in January-May 2009. The Armenian
Central Bank in May predicted GDP would decline 5.8% in 2009, while
Central Bank Deputy Chairman Vache Gabrielian said in early June that
the economy could contract 7%-8%. The International Monetary Fund
lowered its forecast for the GDP decline in Armenia in 2009 to 9.5%
from 5%.
From: Baghdasarian