Due to crisis finance market of Armenia became very passive

09.11.2009 09:28
Due to crisis finance market of Armenia became very passive

YEREVAN, November 6. /ARKA/. “Due to world financial crisis, finance market of Armenia became very passive and has awaiting position”, said Bagrat Asatryan, General Director of UCO “Garni Invest”, former Head of Central bank of Armenia.

“It refers as to financial organizations, as well as to the consumers. In any case, such a situation can be continued till August of this year”, he said.

Some improvements were observed in September-October. “It is early to speak about stabilization of the situation. Decline of GDP in our country during the last quarter exceeded 18% level”, said Asatryan. Some slow steps in the rates of GDP during the last months are not yet a reason for optimistic prognosis and it is not related to the economic situation in whole.

According to the prognosis of the Government of Armenia, economic decline in the country by the results of 2009 will be 12-15% and by the prognosis of IMF and WB - from 12 to 15%.  -0-


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