ARMENIA MANAGES TO AVOID WORST ECONOMIC SCENARIO IN 2009

ARKA
Dec 26, 2009

YEREVAN, December 28. / ARKA /. During the passing year Armenia has
managed to avoid one of the worst economic scenarios, the secretary
of the parliamentary faction of the Republican Party of Armenia (RPA)
Eduard Sharmazanov said.

"I can say that it is right to prevent rather than cure, and that is
the way the government of Tigran Sargsyan and team of the president
Serzh Sargsyan took," he said on Monday at the International Press
Center Novosti.

Sharmazanov described the outgoing year as a year full of events,
not only for the Republican Party of Armenia, but also for the country
as a whole.

"2009 was a hard year, the economic crisis reached its peak and
will also affect our state, society and the social situation in the
country: we had a serious economic downturn. However, this phenomenon
has spread across the world," he said.

According to operational statistics in January-November 2009 GDP volume
of Armenia has declined by 16% compared to the same period in 2008.

From: Emil Lazarian | Ararat NewsPress