Economic decline unlikely to reach 20% in Armenia in 2009, premier states
23.07.2009,
02:48
The economic decline will not reach the pessimistic 20% in Armenia this year, RA Prime Minister Tigran Sargsyan told reporters.
YEREVAN, July 22. /ARKA/. The economic decline will not reach the pessimistic 20% in Armenia this year, RA Prime Minister Tigran Sargsyan told reporters.
Citing the data for the last six months reported by the RA Statistical Service, the Premier said that they indicate positive trends. Specifically, the GDP show lower rates of decrease than was forecast for the first half of this year.
“Fortunately, the anti-crisis measures the Government is implementing now are producing results. Particularly an increase of more than 220% in the construction sector this July as compared with this May seriously slowed down the economic decline rates,” Sargsyan said.
The Premier also pointed out other macroeconomic indicators showing lower rates of economic decline over the last six months, which suggests that “a better GDP growth index can be expected at the end of 2009.”
“We made various scenarios public, but we hope that we will not reach the pessimistic level of 20%,” Sargsyan said.
This January-June, a 16.3% economic decline was registered in Armenia as compared with the corresponding period last year. The GDP reached 1,119.4bln AMD (US $3,216.2mln). An increase of 39.7% in GDP was registered this June against this May.
As of the end of this June, 124.6bln AMD construction was carried out in Armenia. An increase of 130.8% was registered in the Armenian construction sector this June as compared with this May.
The International Monetary Fund (IMF) forecasts an economic decline within 10% in Armenia, and an inflation rate within 3%. The World Bank (WB) forecasts a 9-10 per cent economic decline. –0--
Citing the data for the last six months reported by the RA Statistical Service, the Premier said that they indicate positive trends. Specifically, the GDP show lower rates of decrease than was forecast for the first half of this year.
“Fortunately, the anti-crisis measures the Government is implementing now are producing results. Particularly an increase of more than 220% in the construction sector this July as compared with this May seriously slowed down the economic decline rates,” Sargsyan said.
The Premier also pointed out other macroeconomic indicators showing lower rates of economic decline over the last six months, which suggests that “a better GDP growth index can be expected at the end of 2009.”
“We made various scenarios public, but we hope that we will not reach the pessimistic level of 20%,” Sargsyan said.
This January-June, a 16.3% economic decline was registered in Armenia as compared with the corresponding period last year. The GDP reached 1,119.4bln AMD (US $3,216.2mln). An increase of 39.7% in GDP was registered this June against this May.
As of the end of this June, 124.6bln AMD construction was carried out in Armenia. An increase of 130.8% was registered in the Armenian construction sector this June as compared with this May.
The International Monetary Fund (IMF) forecasts an economic decline within 10% in Armenia, and an inflation rate within 3%. The World Bank (WB) forecasts a 9-10 per cent economic decline. –0--
