ARMENIAN CB FORECASTS 15%-16% DECLINE IN REAL PRIVATE EXPENSES IN 2009

ArmInfo
2009-07-30 19:34:00

ArmInfo. The Central Bank of Armenia forecasts 15%-16% decline in
real private expenses in 2009, says the monetary credit policy of
the Central Bank of Armenia.

Private investments will drop by 35%-38% due to decline in capital
inflows and population’s incomes.

Private consumption will drop by 4%-6%. In June-Dec 2009 private
expenses will be 8%-9% lower than potential level. This will result in
2.%4-2.7% inflation pressure. In Jan-June 2010 the decline in private
expense will slow down due to the government’s anti-crisis programs.