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SHORT ECONOMIC RECESSION TO BE THE BEST SCENARIO FOR ARMENIA
PanARMENIAN.Net
06.05.2009 18:12 GMT+04:00
/PanARMENIAN.Net/ Short economic recession will be the best scenario
for Armenia, Manouk Yergnyan, Chairman of Economy and Values research
centre told journalists today. Mr. Yergyan finds it very difficult
to make predictions on crisis impact. He singled out three scenarios
for further development of global financial-economic crisis.
According to the first, most optimistic scenario, economy will recover
only at the end of the current year. The basic scenario, according to
Mr. Yergyan, predicts continuation of economic crisis for the coming
3-4 years. "That means, after a year of crisis, 3-4 years will be
needed for full recovery," he said.
The third scenario does not allow for any prediction since this
is really a global crisis with peculiarities of its own. In this
connection, Mr. Yergnyan added that Armenia will hardly manage to
ensure high paces of annual economic growth. Summing up, he noted that
"Short economic recession will be the best scenario for Armenia."
In January-March 2009, Armenia recorded economic recession of 6.1%
in comparison with the same period of last year.
PanARMENIAN.Net
06.05.2009 18:12 GMT+04:00
/PanARMENIAN.Net/ Short economic recession will be the best scenario
for Armenia, Manouk Yergnyan, Chairman of Economy and Values research
centre told journalists today. Mr. Yergyan finds it very difficult
to make predictions on crisis impact. He singled out three scenarios
for further development of global financial-economic crisis.
According to the first, most optimistic scenario, economy will recover
only at the end of the current year. The basic scenario, according to
Mr. Yergyan, predicts continuation of economic crisis for the coming
3-4 years. "That means, after a year of crisis, 3-4 years will be
needed for full recovery," he said.
The third scenario does not allow for any prediction since this
is really a global crisis with peculiarities of its own. In this
connection, Mr. Yergnyan added that Armenia will hardly manage to
ensure high paces of annual economic growth. Summing up, he noted that
"Short economic recession will be the best scenario for Armenia."
In January-March 2009, Armenia recorded economic recession of 6.1%
in comparison with the same period of last year.