ECONOMIC PROCESSES IN ARMENIA CONSISTENT WITH GLOBAL TRENDS

PanARMENIAN.Net
19.08.2009 18:00 GMT+04:00

/PanARMENIAN.Net/ Economic downturn of Armenia can reach 12-15 per
cent in 2009, Vartan Aramyan, Deputy Finance Minister of Armenia told
press conference in Yerevan today.

The official noted that over the first six month the economic downturn
in Armenia had already reached 16.3 per cent. According to him,
the construction and industrial production spheres recorded highest
declines: 53.5 and 11.5 per cent respectively.

Vardan Aramyan also reported that the observed decline was much
greater than it was predicted earlier.

According to him, a similar situation is observed in the world
economy, when the decline was greater than predicted, particularly
within the second quarter of this year, the EU was registered 6 per
cent decline. Economic processes in Armenia are fully consistent with
global trends, Vardan Aramyan said.