ARMENIA HAS ROOM TO DOUBLE ITS PLANNED ECONOMIC GROWTH IN 2010

ARKA
Feb 25, 2010

YEREVAN, February 25. /ARKA/. Armenia can enjoy two times higher
than the economic growth planned for 2010, if uses natural and human
resources properly, Tatul Manaseryan, adviser to Armenian Parliament
Speaker, said Thursday at a press conference.

"I think that 1.2% is quite modest outlook. Armenia has greater room
for stabilizing and developing its economy," he said.

Armenia, like the entire world, has overcome the peak of the economic
crisis, though it is still early to speak about a rally.

Manaseryan finds it important to distinguish between objective
circumstances, such as the global economic crisis, and local problems
that drove the national economy 14.4% down in 2009.

"It would be wrong to think that this decline was caused only by
outside pressures."

The lawmaker thinks that to remedy the situation Armenia should
create free economic zones, ease tax burden and set border zones for
free trade.

According to National Statistical Service of Armenia, the country’s
GDP grew 2.4% in January 2010, compared with the same month a year
before, but reduced 60.5%, compared with December 2009.

Armenia recorded 14.4% economic decline in 2009.

In the 2010 state budget, GDP growth is planned at 1.2%. ($1 = AMD
382.41).