BAGRAT ASATRYAN: ARMENIA’S GDP TO FALL 10% AMID 8-10% INFLATION IN 2015

YEREVAN, April 10. /ARKA/. Armenia will face a ten-percent economic
decline in 2015, and inflation in the country will range from eight
to ten percent, Bagrat Asatryan, a former head of the Central Bank
of Armenia, said on Friday.

He told journalists that his forecast was grounded on the developments
seen in late 2014 which had adverse impacts on Armenia’s economy.

He said the inflow of money transfers dwindled and the country’s
forex market became volatile, and this will lead to payment balance
and industrial output reduction.

Asatryan also pointed out the falling world copper prices, the
expected fall in the gold price, the falling demand for the processing
industry’s products and the foreign exchange rate fluctuations in the
key outlets of Armenian products as factors that deteriorate economic
situation in the country.