ARMENIA’S GDP CHANGE CAN VARY FROM -3 TO +3 PER CENT IN 2010

/PanARMENIAN.Net/
11.02.2010 15:22 GMT+04:00

/PanARMENIAN.Net/ If the second wave of the crisis does not hit the
world economy, Armenia’s GDP in 2010 would change from -3% to +3 per
cent, Manuk Hergnyan , chairman of the "Economy and Values" research
center told a press conference on February 11 in Yerevan. However,
according to him, the inflation rate within the current year can vary
from 6 to 9 per cent.

The national currency exchange rate is not likely to undergo sharp
depreciations. "Economy and Values" research center proposed to
the Government of Armenia to develop a strategic model of stable
development of the country.

"We need to develop a model of sustainable development, instead of
having the economy, where the money remittances fuel the construction
sphere, experiencing problems with deficit," he said.

In addition, according to Hergnyan, long-term strategy of Armenia
cannot rely on the fact that the country has open communications, since
"they can close". The model of sustainable development should be based
on the lessons Armenia learnt in a crisis, as well as on technological
potential, on the knowledge-based economy. Budgeted growth is expected
at 1.2 per cent, inflation is projected at 4 1.5 per cent.