President Serzh Sargsyan says economic growth back on recovery track

27.04.2010 15:52
President Serzh Sargsyan says economic growth back on recovery track

YEREVAN, April 27, /ARKA/. President Serzh Sargsyan cited today the 5.5% GDP growth in the first quarter of the year as evidence that the economy is back on recovery track. He made the remarks at the 11-th meeting of the Presidential Atomic Energy Security Council. ‘I think this positive trend will continue,’ he said

The president said the global economic crisis has affected all countries, including Armenia. “The consequences of the crisis has led to reduction of power production volume and slashing gas consumption, but beginning from this year we see the growth trend which we expect will restore the previous volumes of energy and gas consumption.,’ he said.

According to government figures, Armenian economy was up by 5.5% in January-March, compared to the same time period last year, after contracting by 14.4% in 2009. The government projects a 1.8% GDP growth for 2010. ($1 – 390.31 Drams).-0-


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