PREMIER: ARMENIAN ECONOMY EXPECTED TO STOP DECLINING LATER THIS YEAR
ARKA
July 23, 2009
YEREVAN, July 23. /ARKA/. Armenian Prime Minister Tigran Sargsyan
thinks national economy is expected to stop declining later this year.
"We think GDP decline will deepen in coming two months, but the
economy to stop declining later this year", the premier said at a
news conference on Tuesday.
National Statistical Service of Armenia says the country’s economy
declined 16.3% in Jan0June 2009, compared with the same period of
the previous year.
According to the statistical report, GDP totaled AMD 1119.4 billion
($3216.2 million).
June’s GDP exceeded that of the previous month.
The Government has predicted that fast growth in 2008 will be followed
by a rapid decline in six months of 2009 with the deepest low in the
coming two months.
"But we recorded only 0.6% decline this month, though we predicted
deeper decline", Sargsyan said.
In his words, this month’s indicators show that the bailout measures
taken by the Government have positive impact on the countries’ economy.
The premier said that Armenia’s construction sector has built up its
volumes by 228% over June.
He said the country’s trade turnover has grown as well. Sargsyan said
that the agriculture sector faced decline, but the decline slowed
down recently because of season factors.
He expressed hope for further improvement in the agriculture sector
in August.
National Statistical Service of Armenia says agriculture sector’s
output reduced 2.5% in Jan-June 2009, compared with the same period
of the previous year, to 123.5 billion by late June.
June’s output was 61.4% greater than that of May.