Armenian economic recovery to begin next year, GDP to grow by 1-1.5%

Armenian economic recovery to begin next year, GDP to grow by 1-1.5%;
minister’s forecast

YEREVAN, August 28, /ARKA/. Armenia’s finance minister Tigran Davtian
sounded upbeat today saying the economic recovery will start next year.
In response to a question from ARKA news agency the minister, who was
speaking at a news conference at Novosti international press center,
predicted a 1-1.5% economic growth for the next year.

According to Tigran Davtian, stabilization trends could be seen in the
economy, although, `they are not steady yet and we need to bolster
them.’

The minister emphasized positive signals coming from leading economies,
particularly, from Germany, USA and even Russia, that they were going
out of the recession. According to the minister, this success is
creating a positive backdrop for the Armenian economy, which being open
and interrelated with world economies, depends on global economic
developments.

According to the latest official figures, the country’s economy
continued to decline in July showing a 18.5 percent Gross Domestic
Product contraction in the seven months of 2009. The country’s GDP
shrank by 16.3 percent in the first half of this year. M.M. -0-

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS