President: unprecedented economic decline in Armenia stepping back slowly, but steadily

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Economy

23.12.2009, 19:10

Unprecedented economic decline in Armenia is stepping back slowly, but steadily, Armenian President Serzh Sargsyan said Tuesday at his annual meeting with entrepreneurs.

YEREVAN, December 23. /ARKA/. Unprecedented economic decline in Armenia is stepping back slowly, but steadily, Armenian President Serzh Sargsyan said Tuesday at his annual meeting with entrepreneurs.

“Armenia has recorded economic decline, and I don’t think it will considerably slow down in December. But instead the flow of new ideas and projects has not dwindled,” he said.

The president said that macroeconomic developments in recent months and signs of economic recovery give us ground for optimistic outlooks for 2010.

GDP in Armenia reduced 16% in Jan-Nov 2009, compared with the same period a year earlier, to AMD 2786.7 billion.
November’s GDP is 6.6% smaller than that of the previous month. ---0---

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