PREMIER: ECONOMIC DECLINE TO BE 12% IN ARMENIA BY END OF YEAR
ARKA
Aug 5, 2009
YEREVAN, August 5. /ARKA/. Economic decline is to reach 12% in Armenia
by the end of this year, Armenian Premier Tigran Sargsyan said.
"According to our preliminary projections, economic recession rates
will be gradually slowing down and will come from the current 17-18%
down to 12% by the end of the year," Sargsyan said during his visit
to Yeghegnadzor of Vayots Dzor region of Armenia Wednesday.
According to the preliminary information of Armenia’s National
Statistical Service, 16.3% economic decline was recorded in the
country in January-June as compared with the same period of 2008. Gross
Domestic Product (GDP) was 1,119.4 billion drams ($3,216.3 million)
in the period.
Economy shrank by 15.7% over the five months 2009.
According to the Premier, rehabilitation trends will be seen in the
country close to the end of this year.