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WB: Recession Of Armenian Economy Suspends

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  • WB: Recession Of Armenian Economy Suspends

    WB: RECESSION OF ARMENIAN ECONOMY SUSPENDS

    PanARMENIAN.Net
    31.08.2009 14:15 GMT+04:00

    /PanARMENIAN.Net/ Decline of Armenia's economy within June-July was
    suspended, Aristomene Varoudakis , the head of World Bank Yerevan
    Office, said. "Despite the significant slowdown of the economy, certain
    positive trends in July compared with June, are encouraging," he said.

    "Many of the changes are temporary in nature, but in general it
    appears that the decline of the economy stalled," Mr. Varoudakis
    said. According to him, in July compared to June 2009, construction
    industry turnover (the worst affected sphere) increased by 4,5 per
    cent, industrial production grew by 6 per cent, electricity output
    grew by 2 per cent.

    As for inflation, as the World Bank projects, at the end of the year
    it will amount to about 6 per cent.
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