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NEWS » Economy » Former premier: Armenia to record no economic growth in 2012
Economy

Former premier: Armenia to record no economic growth in 2012

11.02.2012, 11:37
Hrant Bagratyan, former Armenian prime minister, told ARKA News Agency on Friday that Armenia would record no economic growth this year.
Former premier: Armenia to record no economic growth in 2012
YEREVAN, February 10. /ARKA/. Hrant Bagratyan, former Armenian prime minister, told ARKA News Agency on Friday that Armenia would record no economic growth this year.

The country is likely to face inflation problems,” he said.

The former premier refrained from making any forecast on individual money transfers to Armenia.

He said that unemployment rate will be higher this year than the present 28% (calculated on International Labor Organization’s methodology).

According to official outlooks, GDP will grow 4.2%, and inflation will be at 4% (±1.5%) in 2012.

National Statistical Service of Armenia says 6.2% unemployment rate was recorded in the country in 2011 – 1.2 percentage points lower than in 2010.

Noncommercial individual transfers received in Armenia through banks totaled $1547 million in 2011 – 19.6% year-on-year growth.

The Central Bank of Armenia expects 3.1-4.8% economic growth in 2012.-0---
#ARMENIA
#FORMER PREMIER
#ECONOMIC GROWTH
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