Armenian economy hit the bottom

03.11.2009 21:09
Armenian economy hit the bottom

YEREVAN, November 3, /ARKA/. Armenian economy hit the bottom and the exit from the crisis will be depending on what kind of steps the government will take in the next 4-5 months, Tigran Jrbashian, a senior official of Ameriabank said today.

“The dynamics of taking the country out of the crisis will be contingent on what the government and other stakeholders will do in the next 4-5 months. But there is no doubt that we have hit the bottom,’ he told journalists during a news conference.

In his words, there are clear signs that all trends are positive. “The speed of going out of the crisis will depend on the situation at global markets and the efficiency of the government’s anti-crisis measures as well as on the business’ reaction to these measures,’ he said.

The Armenian government, the World Bank and the International Monetary Fund have all forecasted that the full-year economic contraction will be between 12-15%. They also expect the economy to grow next year by 1%. -0-


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