Armenia’s full-year economic contraction to stand at 15%: PM

23.11.2009 13:46
Armenia’s full-year economic contraction to stand at 15%: PM

YEREVAN, November 23, /ARKA/. Armenian Prime Minister Tigran Sarkisian told journalists that the country will close the outgoing year with a 15% full-year economic contraction. According to official figures, Armenia’s economy fell by 18.5 % in the first nine months of the year.

‘We suppose that the gradual growth of the economy will be maintained in the last two months of the year,’ Sarkisian said.

In his words, the construction sector that was hit very hard by the economic crisis falling by 50%, will account for 11% of the overall decline this year.

He said the government expects the economy to grow next year by 1.2%, as much as projected by the 2010 draft budget. -0-


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