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FOREX CLUB PREDICTS A 3.7% GDP GROWTH BY THE END OF THIS YEAR
Hasmik Dilanyan
"Radiolur"
01.11.2010 17:49
Armenian economy is developing but it is not open. Besides, there are
certain communication problems, Andrey Dirigin, head of analytical
department at Forex Club, told journalists today.
According to him, economy will develop faster in case land
communication between Armenia and Turkey is resumed. Presently there
is a transit turnover between Armenia and Turkey, he noted. The expert
considers that despite transport restrictions, Armenia will overcome
economic crisis faster than Georgia and Azerbaijan.
According to the analyst of the Forex Club, Michael Verdyan, a 15%
GDP drop was registered in Armenia last year. The main sectors
contributing to the slump were construction (42.3%) and trade (4%
decline), Verdyan added.
The lack of traditionally available loan funds was the main reason
for the decline in the above-mentioned sectors, Verdyan said.
According to Verdyan's assessment, Armenia's economy fails to register
high growth because of the fall in the field of agriculture, the
large volume of foreign debt and high inflation rate.
The Forex Club predicts a 3.7% GDP growth by the end of this year.
From: A. Papazian
Hasmik Dilanyan
"Radiolur"
01.11.2010 17:49
Armenian economy is developing but it is not open. Besides, there are
certain communication problems, Andrey Dirigin, head of analytical
department at Forex Club, told journalists today.
According to him, economy will develop faster in case land
communication between Armenia and Turkey is resumed. Presently there
is a transit turnover between Armenia and Turkey, he noted. The expert
considers that despite transport restrictions, Armenia will overcome
economic crisis faster than Georgia and Azerbaijan.
According to the analyst of the Forex Club, Michael Verdyan, a 15%
GDP drop was registered in Armenia last year. The main sectors
contributing to the slump were construction (42.3%) and trade (4%
decline), Verdyan added.
The lack of traditionally available loan funds was the main reason
for the decline in the above-mentioned sectors, Verdyan said.
According to Verdyan's assessment, Armenia's economy fails to register
high growth because of the fall in the field of agriculture, the
large volume of foreign debt and high inflation rate.
The Forex Club predicts a 3.7% GDP growth by the end of this year.
From: A. Papazian