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BAGRAT ASATRYAN: ARMENIA'S ECONOMY HAS DRAWN NO LESSONS FROM GLOBAL CRISIS
/ARKA/
June 14, 2010
YEREVAN
Bagrat Asatryan, former chairman of the Central Bank of Armenia,
thinks Armenia's economy has drawn no lessons from the global crisis
and has worked out no resistance mechanisms.
Asatryan finds Armenian banking sector's reaction to the crisis
quite adequate.
"Regulating agencies and commercial banks have taken certain steps, and
the banking sector continued growing as the economy kept declining,
though growth paces and results of the activity were relatively
modest," he said.
Armenia faced 14.4% GDP decline in 2009, compared with the previous
year.
National Statistical Service of Armenia says the country's GDP has
grown 7.2% over the period between January and March 2009, compared
with the same period a year earlier.
From: A. Papazian
/ARKA/
June 14, 2010
YEREVAN
Bagrat Asatryan, former chairman of the Central Bank of Armenia,
thinks Armenia's economy has drawn no lessons from the global crisis
and has worked out no resistance mechanisms.
Asatryan finds Armenian banking sector's reaction to the crisis
quite adequate.
"Regulating agencies and commercial banks have taken certain steps, and
the banking sector continued growing as the economy kept declining,
though growth paces and results of the activity were relatively
modest," he said.
Armenia faced 14.4% GDP decline in 2009, compared with the previous
year.
National Statistical Service of Armenia says the country's GDP has
grown 7.2% over the period between January and March 2009, compared
with the same period a year earlier.
From: A. Papazian