Former Central bank governor questions government economic growth projections

27.01.2010 21:39
Former Central bank governor questions government economic growth projections

YEREVAN, January 27, /ARKA/. Former chairman of Armenian Central Bank, Bagrat Asatrian, questioned today the government economic growth projections, saying they should be revised downward.

Earlier he predicted a 1-2% economic decline for 2010. Speaking at a news conference he said the economic decline may grow to 3-4%.

In his words, the growth may be halted by agriculture, which constitutes one fifth of the GDP. “The economic decline will be apparent in agriculture, which will be affected also by adverse climatic conditions,’ he said.

He next lashed out at the government’s fiscal policy saying it does not encourage economic growth.

“Inflation regulation policy is separated from economic policy and there is the contrary effect,’ he said.

A deputy chairman of a parliament committee on economic issues, Vardan Bostanjian, backed the government GDP forecast that projects a 1.2% growth for this year.  -0-


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