IMF PREDICTS 10-15% FULL-YEAR CONTRACTION OF ARMENIAN ECONOMY
ARKA
September 9, 2009
Yerevan
YEREVAN, September 9, /ARKA/. Nienke Oomes, IMF Resident Representative
in Armenia, said today Armenia’s full-year economic contraction,
according to a preliminary outlook, will be between 10-15%, the
inflation rate will be 3%.
Armenia’s GDP in January-June plunged by 16.3%. According to official
figures, a 0.4% deflation was recorded in August against July, while
the consume price index in August was 102.0 % from 2008 December.
Nienke Oomes said according to the latest official IMF forecast,
Armenian economy would fall by 9.5% by yearend, but she added that
that forecast is being revised now.
She said an IMF delegation is visiting now Armenia and its members
will discuss the situation with Armenian government and Central Bank
officials and representatives of private sector, following which the
forecasts will be specified, but ‘according to preliminary figures,
the decline will be between 10-15% and the average annual inflation
rate will be curbed to 3%, one of the lowest index."
"The IMF expects the overall full-year contraction to be lower than
in the first half of the year because the decline began in the last
quarter of 2008," she said, adding that the IMF shares Armenian
government’s forecast about a relatively small growth expected
next year. Earlier Armenian finance ministry also predicted a 10-15%
full-year contra ction for this year. The World Bank outlook is 12-15%,
that of inflation is 6%. -0-
YEREVAN, September 9, /ARKA/. Nienke Oomes, IMF Resident Representative
in Armenia, said today Armenia’s full-year economic contraction,
according to a preliminary outlook, will be between 10-15%, the
inflation rate will be 3%.
Armenia’s GDP in January-June plunged by 16.3%. According to official
figures, a 0.4% deflation was recorded in August against July, while
the consume price index in August was 102.0 % from 2008 December.
Nienke Oomes said according to the latest official IMF forecast,
Armenian economy would fall by 9.5% by yearend, but she added that
that forecast is being revised now.
She said an IMF delegation is visiting now Armenia and its members
will discuss the situation with Armenian government and Central Bank
officials and representatives of private sector, following which the
forecasts will be specified, but ‘according to preliminary figures,
the decline will be between 10-15% and the average annual inflation
rate will be curbed to 3%, one of the lowest index."
"The IMF expects the overall full-year contraction to be lower than
in the first half of the year because the decline began in the last
quarter of 2008," she said, adding that the IMF shares Armenian
government’s forecast about a relatively small growth expected next
year. Earlier Armenian finance ministry also pr edicted a 10-15%
full-year contraction for this year. The World Bank outlook is 12-15%,
that of inflation is 6%.