Armenian premier forecasts 2% economic upturn in Armenia in 2010
10.06.2009,
01:52
Armenia is likely to post a 2% economic growth in 2010, RA Prime Minister was quoted as saying on Tuesday. “We have been too cautious when making 2010 forecasts.
YEREVAN, June 9. /ARKA/. Armenia is likely to post a 2% economic growth in 2010, RA Prime Minister was quoted as saying on Tuesday. “We have been too cautious when making 2010 forecasts.
We will draw a budget with an economic upturn of around 2% and up to 6% deficit,” RA Prime Minister Tigran Sargsyan was quoted saying during the EurAsEc meeting in Moscow.
According to the premier, Armenia has not yet felt the strong impact of the global economic downturn.
“The Central Bank and Government have expanded their policy. We have increased sharply this year’s budget deficit that is forecast to reach 7%, with inflation remaining low,” Sargsyan said, ruling out inflationary pressure in 2009. “We will end this year with around 5% inflation,” the premier added.
The premier stressed that the RA Government’s anti-crisis measures are similar to those undertaken in other member-states of EurAsEc. “Though these measures help alleviate the impact of the global financial and economic crisis, they cannot totally eliminate it,” the prime minister said, adding the Armenian government would make further efforts to boost the country’s economy.
Armenia posted a 9.7% year-on-year economic downturn between January and April 2009, with GDP totaling 638,939.3mln drams. –0--
We will draw a budget with an economic upturn of around 2% and up to 6% deficit,” RA Prime Minister Tigran Sargsyan was quoted saying during the EurAsEc meeting in Moscow.
According to the premier, Armenia has not yet felt the strong impact of the global economic downturn.
“The Central Bank and Government have expanded their policy. We have increased sharply this year’s budget deficit that is forecast to reach 7%, with inflation remaining low,” Sargsyan said, ruling out inflationary pressure in 2009. “We will end this year with around 5% inflation,” the premier added.
The premier stressed that the RA Government’s anti-crisis measures are similar to those undertaken in other member-states of EurAsEc. “Though these measures help alleviate the impact of the global financial and economic crisis, they cannot totally eliminate it,” the prime minister said, adding the Armenian government would make further efforts to boost the country’s economy.
Armenia posted a 9.7% year-on-year economic downturn between January and April 2009, with GDP totaling 638,939.3mln drams. –0--
