FINANCE MINISTER SAYS ECONOMY MAY GROW BEYOND PROJECTED 1.2% NEXT YEAR

ARKA
Oct 28, 2009

YEREVAN, October 28, /ARKA/. Armenian Finance Minister Tigran Davtian
said today the economy may show a bigger growth next year and exceed
the projected 1.2%.

"In our next year’s budget we have projected a cautious 1.2% growth.

But I do not rule out that under the most optimistic scenario the
GDP may show a bigger growth,’ he said to a news conference.

According to the minister, the economy began to growth since August.

In September it grew by 4.8% against August and this trend goes on,
although, he said, the growth was seasonal.

"Therefore, we have a textbook option-crisis-stabilization- anticipated
growth,’ he concluded.

Under the 2010 draft budget, the economy is projected to show a 1.3%
growth. The aggregate GDP is projected at 3 trillion and 214 billion
Drams. ($1 – 385.08 Drams).