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NO RECESSION BITES ARMENIA: MINISTER
ARKA
Dec 24, 2008
YEREVAN
Though there is no recession threat in Armenia, it is necessary to
maintain the current economic activity index, RA Minister of Economy
Nerses Yeritysan said today.
"The country is capable of undertaking steps to prevent possible
economic downturn," he added.
The government's precautions do not demand any legislative reforms,
according to the minister. "Thanks to the acting law that focuses on
business liberalization, we are able to maintain economic activity,"
the minister said.
To the question which is the reason for the current setback, Yeritsyan
said the decline from 9.2% to 7.2% is a result of the downturn in
the construction sector and exports which respond to the global
market recession.
"Indexes of these sectors hit a record low this November," the minister
said, adding agricultural downturn had a seasonal character.
Armenia saw 9.2% year-on-year economic growth in January-October 2008
(7.2% between January and November 2008).
ARKA
Dec 24, 2008
YEREVAN
Though there is no recession threat in Armenia, it is necessary to
maintain the current economic activity index, RA Minister of Economy
Nerses Yeritysan said today.
"The country is capable of undertaking steps to prevent possible
economic downturn," he added.
The government's precautions do not demand any legislative reforms,
according to the minister. "Thanks to the acting law that focuses on
business liberalization, we are able to maintain economic activity,"
the minister said.
To the question which is the reason for the current setback, Yeritsyan
said the decline from 9.2% to 7.2% is a result of the downturn in
the construction sector and exports which respond to the global
market recession.
"Indexes of these sectors hit a record low this November," the minister
said, adding agricultural downturn had a seasonal character.
Armenia saw 9.2% year-on-year economic growth in January-October 2008
(7.2% between January and November 2008).