Bagrat Asatryan: Armenia’s Economy Has Drawn No Lessons from Global Crisis
15.06.2010,
01:20
Bagrat Asatryan, former chairman of the Central Bank of Armenia, thinks Armenia’s economy has drawn no lessons from the global crisis and has worked out no resistance mechanisms.
YEREVAN, June 14. /ARKA/. Bagrat Asatryan, former chairman of the Central Bank of Armenia, thinks Armenia’s economy has drawn no lessons from the global crisis and has worked out no resistance mechanisms.
Asatryan finds Armenian banking sector’s reaction to the crisis quite adequate.
“Regulating agencies and commercial banks have taken certain steps, and the banking sector continued growing as the economy kept declining, though growth paces and results of the activity were relatively modest,” he said.
Armenia faced 14.4% GDP decline in 2009, compared with the previous year.
National Statistical Service of Armenia says the country’s GDP has grown 7.2% over the period between January and March 2009, compared with the same period a year earlier. --0—
Asatryan finds Armenian banking sector’s reaction to the crisis quite adequate.
“Regulating agencies and commercial banks have taken certain steps, and the banking sector continued growing as the economy kept declining, though growth paces and results of the activity were relatively modest,” he said.
Armenia faced 14.4% GDP decline in 2009, compared with the previous year.
National Statistical Service of Armenia says the country’s GDP has grown 7.2% over the period between January and March 2009, compared with the same period a year earlier. --0—
