ECONOMIC GROWTH TO COMPRISE 1.2%

0 7:25 pm | October 12, 2009

Economy

2010 Economic growth in Armenia will comprise 1.2%, IMF Executive
Director (France) Ambroise Fayolle stated today.

Armenia’s economy will be restored through government-implemented
money-and-credit and fiscal policy as well as international
financial assistance, registering a minor growth of 1.2%," say IMF
representatives.

In this context, Fayolle noted that Armenia was among states, most
impacted by financial crisis; still they "hope to be mistaken in
forecasts".

IMF forecasts 15% economic downturn in 2009 in Armenia.

"IMF experience in other regions proves opening of border and
regional integration promote economic development in the country,"
he said commenting on possible consequences Armenia will face with
RA-Turkish border opening.