Combined GDP decline over last five years was minus 0.8%: ex prime minister

13.02.2012 15:42
Combined GDP decline over last five years was minus 0.8%: ex prime minister

YEREVAN, February 13. /ARKA/. Former prime minister Hrant Bagratian said at a Friday news conference that the combined GDP  decline over the last five years amounted to minus 0.8%.

He said according to official data, GDP growth in 2008 was 6.8%, in 2009 it slashed by 14.5%, the negative difference was 7.7%. In 2010 GDP growth was said to be 1%, and in 2011 it contracted by 5.9%, he argued.

"If we put together all these numbers we will get a GDP decline of 0.8%," said Bagratian.

According to the National Statistical Service, Armenia's GDP growth at market prices in 2008 amounted to 6.9%, in 2009 it declined by 14.1%, and in 2010 GDP growth was 2.1%. The government projection of GDP growth in 2011 is 4.6%. According to the Statistical Service, the economic activity growth in 2011 was 5.9% compared with 2010. -0-


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