ARMENIA RECORDED 15% ECONOMIC SLUMP IN 2009

PanARMENIAN.Net
29.12.2009 12:46 GMT+04:00

/PanARMENIAN.Net/ Armenia’s economy will record 15% slump for 2009,
according to Minister of Finance Tigran Davtyan.

"Over the past 11 months, economy began to recover, with the slump
decreasing from 18% to 16%, he told a news conference in Yerevan.

At that, the Minister noted that annual inflation rate will comprise
5-5.5%, the figure not going beyond the limit envisaged by the
national budget.

As to increased retail trade volumes, he explained it by the
introduction of checkouts and payment of check bonuses which totaled
AMD 3.5 billion. "Positive results in that direction were 2-2.5 times
more," he said.

Besides, average salary increase over the past 11 months made 11%,
with the growth in budgetary organizations reaching 16%.

From: Emil Lazarian | Ararat NewsPress