Finance minister: economic decline in Armenia to slow down to annual 15%
30.09.2009,
02:02
Economic decline in Armenia is expected to slow down gradually from 18.5% recorded for eight months of this year to annual 15%, Finance Minister Tigran Davtyan said at a press conference on Tuesday.
YEREVAN, September 29. /ARKA/. Economic decline in Armenia is expected to slow down gradually from 18.5% recorded for eight months of this year to annual 15%, Finance Minister Tigran Davtyan said at a press conference on Tuesday.
“This is a likely scenario, but experience shows that the reality differs from any prediction. However, I think our outlooks are close to reality”, he said.
The minister said referring to interim statistical reports for Jan-Aug 2009 that the recent signs of recovery are seen in figures.
“Taking into account August’s results, we can say that we have already reached the deepest decline, since we recorded 0.1% slowdown in Jan-Aug 2009.”
According to the National Statistical Service of Armenia, GDP shrank 18.4% in Jan-Aug 2009 to AMD 1761.9 billion ($4987.1 million).
The economic decline of Jan-July was recorded at 18.5% and GDP amounted to AMD 1417.1 billion ($3789.6 million).
The finance minister said that the recovery will be “hard and painful”.
“But we’ll handle it”, Davtyan said.-0--
“This is a likely scenario, but experience shows that the reality differs from any prediction. However, I think our outlooks are close to reality”, he said.
The minister said referring to interim statistical reports for Jan-Aug 2009 that the recent signs of recovery are seen in figures.
“Taking into account August’s results, we can say that we have already reached the deepest decline, since we recorded 0.1% slowdown in Jan-Aug 2009.”
According to the National Statistical Service of Armenia, GDP shrank 18.4% in Jan-Aug 2009 to AMD 1761.9 billion ($4987.1 million).
The economic decline of Jan-July was recorded at 18.5% and GDP amounted to AMD 1417.1 billion ($3789.6 million).
The finance minister said that the recovery will be “hard and painful”.
“But we’ll handle it”, Davtyan said.-0--
