Recession imminent in Armenian economy in 2019
23.10.2018,
14:21
Hrant Bagratyan, the leader of Freedom party and a former prime minister of Armenia, taking into account the fast GDP growth recorded in the country in Oct-Dec 2017, predicted some slowdown for 2018 and a recession for 2019.
YEREVAN, October 23. /ARKA/. Hrant Bagratyan, the leader of Freedom party and a former prime minister of Armenia, taking into account the fast GDP growth recorded in the country in Oct-Dec 2017, predicted some slowdown for 2018 and a recession for 2019.
On his Facebook page, he said that economic growth in Armenia continues slowing – the year-on-year growth in Jan-Sept 2018 was recorded at 6.5%, and at the time of the velvet revolution it stood at 9.7%.
Bagratyan said that the slowdown was expected.
In his words, export indicators are going down as well, and this may drive the Armenian national currency’s exchange rate down in three or six months.
According to the official statistical reports, Armenia’s economic activity index rose only 0.2% in September 2018, compared with the same month a year earlier.
Slowdown in August was due to decline in agriculture. In August, the economic activity index went only 0.6% up, while in July it rose 11.1%.
The slowdown continued also in September due to decline in the agriculture sector.
As a whole, the economic activity index rose 6.5% in the first nine months of this year. -0---
On his Facebook page, he said that economic growth in Armenia continues slowing – the year-on-year growth in Jan-Sept 2018 was recorded at 6.5%, and at the time of the velvet revolution it stood at 9.7%.
Bagratyan said that the slowdown was expected.
In his words, export indicators are going down as well, and this may drive the Armenian national currency’s exchange rate down in three or six months.
According to the official statistical reports, Armenia’s economic activity index rose only 0.2% in September 2018, compared with the same month a year earlier.
Slowdown in August was due to decline in agriculture. In August, the economic activity index went only 0.6% up, while in July it rose 11.1%.
The slowdown continued also in September due to decline in the agriculture sector.
As a whole, the economic activity index rose 6.5% in the first nine months of this year. -0---
