WORLD BANK: ARMENIA SUFFERS DUE TO MONEY TRANSFERS
News.am
12:09 / 10/12/2009
According to the 2009 annual report issued by the World Bank (WB)
Armenia is one of the countries in the region which considerably
suffered due to reduction of international money transfers and
crisis-impacted countries’ financial and labor markets.
Armenia is one of the countries that had an opportunity to use
interest-free loans and grants that will be allocated from the WB
special fund created to overcome the crisis consequences.
According to the WB forecast, world economy recession will reach 2.9%
by the end of 2009. The overall value of international trade and
services will be reduced over 10%.
According to international financial organizations, economy recession
will make 15% in Armenia.