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Armenian economy undergoing stagnation, experts say
September 18, 2010 - 14:39 AMT 09:39 GMT
PanARMENIAN.Net -
Over the last 7 months, Armenian economy has shown a tendency for GDP
growth impairment (4%), caused by 23% slump in agriculture sector in
January -July.
`GDP index exceeds the one envisaged by state budget; however it's a
little lower than we expected,' the head of Armenian Ministry of
Finance (AMF) Macroeconomic Policy Department Armen Hayrapetyan told a
news conference.
AMF's inflation-related expectations also proved unjustified. `Current
level of inflation, 8-9%, is the result of price increase for
agriculture products, as well as the upsurge of world prices for
bakery products,' the expert noted.
Hayrapetyan gave high assessment to export and import rates, 43% and
22% respectively.
An independent expert Samvel Avagyan, expressed skepticism over the
current level of unemployment and social environment in Armenia.
`Armenian economy is undergoing stagnation,' the expert observed.
1,2% economic growth, and 4±1,5% inflation rate are envisaged by the
budget in 2010.
From: A. Papazian
September 18, 2010 - 14:39 AMT 09:39 GMT
PanARMENIAN.Net -
Over the last 7 months, Armenian economy has shown a tendency for GDP
growth impairment (4%), caused by 23% slump in agriculture sector in
January -July.
`GDP index exceeds the one envisaged by state budget; however it's a
little lower than we expected,' the head of Armenian Ministry of
Finance (AMF) Macroeconomic Policy Department Armen Hayrapetyan told a
news conference.
AMF's inflation-related expectations also proved unjustified. `Current
level of inflation, 8-9%, is the result of price increase for
agriculture products, as well as the upsurge of world prices for
bakery products,' the expert noted.
Hayrapetyan gave high assessment to export and import rates, 43% and
22% respectively.
An independent expert Samvel Avagyan, expressed skepticism over the
current level of unemployment and social environment in Armenia.
`Armenian economy is undergoing stagnation,' the expert observed.
1,2% economic growth, and 4±1,5% inflation rate are envisaged by the
budget in 2010.
From: A. Papazian