ARMENIAN ECONOMY NOT THREATENED WITH SECOND WAVE OF CRISIS

PanARMENIAN.Net
17.03.2010 15:14 GMT+04:00

/PanARMENIAN.Net/ Armenian economy is not threatened with the second
wave of crisis, being on its way towards overcoming the downfall,
according to economist Gagik Vardanyan.

The expert characterized 1.2% economic growth index stipulated in state
budget as a feasible figure, allowing for a possibility of 2-3% growth.

"The matter is that economic growth can be provided after the crisis
is overcome; yet the growth doesn’t signify economic development," Mr.

Vardanyan told a news conference in Yerevan.

He forecasted the start of Armenia’s economy restoration in 2010-2011,
conditioned by increase of world prices for copper and molybdenum.

1.2% economic growth and 4±1.5% inflation are stipulated in RA state
budget for 2010.