COALITION MEMBER SEES NO PRECONDITIONS FOR RECOVERING TO BEFORE THE CRISIS LEVEL

/ARKA/
April 22, 2010
YEREVAN

A press secretary for the Prosperous Armenia party leader Gagik
Tsarukian, one of the richest Armenian businessmen, questioned today
government’s assurances that the country’s economy is out of economic
slump and back on the track to recover to before the crisis level.

Speaking to journalists, the spokesman, Khachik Galstian, said
the party, a component of the ruling coalition, does not see any
preconditions for it.

‘The impact of the global economic crisis on Armenia is not overcome
yet, although we have made some steps to exit of it, but we have not
yet secured preconditions to recover to the before the crisis level,’
he said.

Armenian economy shrank last year by 14.4%, but according to the latest
numbers of the National Statistical Service, the growth in the first
quarter of 2010 expended by 5.5% from the same time last year.