Economic decline in Armenia by the results of 2009 will be 15% - Ministry of Finance

29.12.2009 16:01
Economic decline in Armenia by the results of 2009 will be 15% - Ministry of Finance

YEREVAN, December 29. /ARKA/. “By the results of 2009, 15% economic decline was registered in Armenia”, said Tigran Davtyan, Minister of Finance of Armenia.

“During 11 months the rates of decline were reduced up to 18% to 16%”, said Davtyan during the press-conference on Tuesday.

Till the end of the year some indicators will increase. “Mainly the volumes of retail trade will increase which is conditioned by disclosure of “shadow” economy and application of mechanism of control-cash devices”, he said.

The State invested about 3.5 billion drams for introduction of the system of control-cash devices and payment of bonuses. These measures will continue next year.

By the results of 11 months, 11% growth of salaries was registered, from which 16% is in state sector. –0—


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