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Ameriabank: Armenia Can Record Higher-Than-Expected Economic Growth

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  • Ameriabank: Armenia Can Record Higher-Than-Expected Economic Growth

    AMERIABANK: ARMENIA CAN RECORD HIGHER-THAN-EXPECTED ECONOMIC GROWTH IN 2010

    ARKA
    Feb 26, 2010

    YEREVAN, February 26. /ARKA/. Tigran Jrbashyan, development director
    of Ameriabank finds the 1.2% economic growth outlook for Armenia in
    2010 pessimistic.

    He thinks that the economic growth can be far higher.

    Jrbashyan told journalists on Friday that Armenia's economic
    development will be contingent on how quick Armenia's partners will
    recover from the crisis.

    Oil prices and dollar/euro ratio will influence the development
    as well.

    That is why it is necessary to take into account the global situation
    for making forecasts.

    "The latest world outlooks show that the global economy is coming out
    of the first stage of the crisis, but there is a threat of a double-dip
    crisis. This threat is mainly depend on things in China and on whether
    this country will manage to retain the current trend," Jrbashyan said.

    He thinks that inflation will be among Armenia's biggest troubles in
    the first half of 2010, and the central bank has already embarked on
    relevant monetary policy and has raised refinancing rate.

    Jrbashyan said that in the second half of 2010, the impact will
    be softer.

    In the 2010 state budget, GDP growth is planned at 1.2%.

    European Bank for Reconstruction and Development and International
    Monetary Fund predict a two-percent economic growth.
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