YEREVAN, June 21. /ARKA/. Armenia has successfully withstood the consequences of the global financial and economic crisis, the Black Sea Economic Cooperation Organization (BSECO) President Andrey Kondakov said Thursday at a news conference in Yerevan.

“We think Armenia successfully handles global challenges,” he said. “In 2009, Armenia faced the least, 14-percent decline, among BSECO member countries.”

Kondakov said that Armenia’s economy is on the recovery track today. He said the country’s economy is showing a stable growth, and its foreign debt is quite controllable.

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The Black Sea Trade and Development Bank’s delegation headed by Andrey Kondakov, the president of the bank, arrived in Yerevan on Wednesday, the press office of the Central Bank of Armenia reports.

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