16% DOWNTURN CONDITIONED BY SHORTAGE OF RESOURCES: BOSTANJYAN

news.am
Jan 21 2010
Armenia

The significant slump in Armenian economy in 2009 is conditioned
by shortage of resources, BHK MP Vardan Bostanjyan stated trying to
justify the 16% downturn adding he does not take it as a tragedy. He
believes in RA Government’s forecast of 1.2% economic growth in 2010.

At that, in 2009, the Government promised 9.2% economic upturn,
however registered 16% slump.

Commenting on the statement that oppositional economists forecast
2-3% downturn this year, Bostanjyan said: "Overall, this indicator is
really convenient. The opposition meant to point out the fragilities
of the economy and see things in a more realistic light. Luckily they
do not speak of 10% decline."

As NEWS.am reported previously, former Chairman of Central Bank of
Armenia Bagrat Asatryan forecasted 11-12% downturn, however losses
considerably exceeded this indicator.

Bostanjyan also referred to the countries that came out of economic
recession, giving a good example to Armenia.

From: Emil Lazarian | Ararat NewsPress