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Opinion: Armenian economy to suffer minimum losses at end of year

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  • Opinion: Armenian economy to suffer minimum losses at end of year

    Opinion: Armenian economy to suffer minimum losses at end of year

    YEREVAN, September 11. /ARKA/. Armenia will complete the year with
    minimum losses, Chairman of Armenia's Union of Manufacturers and
    Businessmen Arsen Ghazaryan told journalists Friday.

    An 18.5% economic decline was recorded in Armenia in January-July; the
    Gross Domestic Product (GDP) amounted to 1,417.1 billion drams
    ($3,789.6 million).

    The world economy, with Armenian economy among others, is going through
    serious trial now, Ghazaryan said. Yet, Armenia will start the year
    2010 with stable and normal indicators, he added.

    `Positive and encouraging activities, including those on import and
    export, prove it. They cannot be compared with indicators of
    March-April,' Ghazaryan said.

    According to the country's Ministry of Finance, economic decline is to
    range 10-15% by the end of the year.

    As per projections by the World Bank, 12-14% economic recession is
    expected in Armenia by the end of 2009. According to the IMF, the
    recession is to be within 10-15%. N.V. `0--
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