WORLD BANK OFFICIAL FORECASTS ZERO GROWTH OF ARMENIAN GDP THIS YEAR
Noyan Tapan
F eb 25, 2009
YEREVAN, FEBRUARY 25, NOYAN TAPAN. Armenia may have a zero GDP growth
rate this year. Expressing this opinion at the February 25 meeting
with reporters, the head of the World Bank Yerevan Office Aristomene
Varudakis conditioned his forecast by the poor state of the global
economy, and even worse economic state of Russia which is the major
trade partner of Armenia.
It became known on the same day that the World Bank will provide a 85
million dollar credit to Armenia for a period of 20 years. The credit
will be spent on reconstruction of road infrastructures, additional
financing of the Social Investment Fund, development of agricultural
sector and private farms as well as small and medium enterprises.
From: Emil Lazarian | Ararat NewsPress
