ECONOMIC DECLINE UNLIKELY TO REACH 20% IN ARMENIA IN 2009, PREMIER STATES
ARKA
July 22, 2009
YEREVAN, July 22. /ARKA/. The economic decline will not reach the
pessimistic 20% in Armenia this year, RA Prime Minister Tigran Sargsyan
told reporters.
Citing the data for the last six months reported by the RA
Statistical Service, the Premier said that they indicate positive
trends. Specifically, the GDP show lower rates of decrease than was
forecast for the first half of this year.
"Fortunately, the anti-crisis measures the Government is implementing
now are producing results. Particularly an increase of more than
220% in the construction sector this July as compared with this May
seriously slowed down the economic decline rates," Sargsyan said.
The Premier also pointed out other macroeconomic indicators showing
lower rates of economic decline over the last six months, which
suggests that "a better GDP growth index can be expected at the end
of 2009."
"We made various scenarios public, but we hope that we will not reach
the pessimistic level of 20%," Sargsyan said.
This January-June, a 16.3% economic decline was registered in Armenia
as compared with the corresponding period last year. The GDP reached
1,119.4bln AMD (US $3,216.2mln). An increase of 39.7% in GDP was
registered this June against this May.
As of the end of this June, 124.6bln AMD construction was carried
out in Armenia . An increase of 130.8% was registered in the Armenian
construction sector this June as compared with this May.
The International Monetary Fund (IMF) forecasts an economic decline
within 10% in Armenia, and an inflation rate within 3%. The World Bank
(WB) forecasts a 9-10 per cent economic decline.