Minister predicts 10-15% full-year economic decline

YEREVAN, August 29, /ARKA/. Armenia’s finance minister Tigran Davtian
argued today that the country’s full-year economic contraction will be
within 10-15%. In response to a question from ARKA news agency the
minister, who was speaking at a news conference at Novosti
international press center, said the full-year economic showing will
not be as worse as in the first seven months of the year, when the GDP
fell 18.5%.

The minister explained that a wide forecast gap is due to different
models of gauging up indices which involve a set of different factors.

`Economy is a very complex structure and to have in mind all factors is
actually impossible,’ he said, adding that a 10-15% outlook is close to
forecasts of international organizations. M.M. -0-