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VACHE GABRIELYAN: NO ECONOMIC GROWTH IS FORECASTED IN ARMENIA IN 2009
/PanARMENIAN.Net/
09.07.2009 14:28 GMT+04:00
/PanARMENIAN.Net/ CBA experts forecast no economic growth in Armenia
in 2009, Deputy CBA Governor Vache Gabrielyan told at the discussion
entitled "Impact of the Global Financial Crisis on Armenia: Empirical
Evidence". According to him, this does not mean separate segments will
not see the economic growth. As for world economy growth, Deputy CBA
Governor believes it will be registered in 2010-2011. Commenting on the
statement of King Banaian, AIPRG fellow, chairperson at St. Cloud State
University, USA, on Armenian's dependence on transfers from Russia,
Vache Gabrielyan explained that there are a number of concomitant
reasons, knowledge of language and free visa regime included. "There's
a history of long-term relationship between Armenia and Russia,
most of Armenia's migrants reside in Russia, so the reduction of
transfer flow couldn't but have a negative effect Armenia's economy,"
he said. He agreed that Armenia has to diversify its economy to
reduce its dependence on foreign transfers in future. On June 7-8,
Yerevan hosted " Impact of the Global Financial Crisis on Armenia:
Short- and Long-run Perspectives" international scientific conference,
organized by Armenian International Policy Research Group (AIPRG).
/PanARMENIAN.Net/
09.07.2009 14:28 GMT+04:00
/PanARMENIAN.Net/ CBA experts forecast no economic growth in Armenia
in 2009, Deputy CBA Governor Vache Gabrielyan told at the discussion
entitled "Impact of the Global Financial Crisis on Armenia: Empirical
Evidence". According to him, this does not mean separate segments will
not see the economic growth. As for world economy growth, Deputy CBA
Governor believes it will be registered in 2010-2011. Commenting on the
statement of King Banaian, AIPRG fellow, chairperson at St. Cloud State
University, USA, on Armenian's dependence on transfers from Russia,
Vache Gabrielyan explained that there are a number of concomitant
reasons, knowledge of language and free visa regime included. "There's
a history of long-term relationship between Armenia and Russia,
most of Armenia's migrants reside in Russia, so the reduction of
transfer flow couldn't but have a negative effect Armenia's economy,"
he said. He agreed that Armenia has to diversify its economy to
reduce its dependence on foreign transfers in future. On June 7-8,
Yerevan hosted " Impact of the Global Financial Crisis on Armenia:
Short- and Long-run Perspectives" international scientific conference,
organized by Armenian International Policy Research Group (AIPRG).