ARMENIA NOT TO SEE ECONOMIC GROWTH IN 2009: RUSSIAN EXPERT
Today.Az
/54094.html
July 24 2009
Azerbaijan
"Armenia will not see economic growth and inflation will surpass
the projected figure in 2009," Russian expert at the Institute of
Transition Economies Lev Freinkman said.
"Armenia achieved major progress of macroeconomic indicators in
previous years: the country came to a crisis fairly well prepared,
with very low debt, very low inflation and a very decent level of
fiscal deficit," he said.
Freinkman said it gives quite a lot of opportunities to take any
emergency measures to combat the crisis, however, this year there
will be no "economic growth" and inflation will be higher than usual
and situation with the lost balance will be "quite tense."
"Some discussions have already begun, there is an understanding
that one should take the politically annoying decisions primarily on
ending monopolization of Armenian economy, opening up opportunities
for foreign investments and diversifying opportunities for economic
growth," he said.
The expert said it is impossible to speak about resumption of
sustainable economic growth in Armenia until the-afore said is done.
In January-June 2009, Armenia’s economic recession was 16.3 percent
according to the National Statistical Service. The volume of the June
GDP was 39.7 percent higher than that of May.
According to the state budget, Armenia’s GDP growth is projected at
9.2 percent and inflation 4 percent (± 1,5%) in 2009.