YEREVAN, February 7. /ARKA/. Armenian economy should be ready for very pessimistic outlooks because of the crisis in Europe, Gagik Minasyan, head of the National Assembly’s financial and budgetary commission, said on Tuesday.

He told ARKA News Agency that integration degree is very high in the world, and not a single county that has trade ties with European Union can’t avoid impacts of Europe’s current problems.

Minasyan said that every country is trying to lessen possible impacts of the recession by using own instruments – Armenia is trying to diversify its economy to cushion adverse impacts.

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Economic activity index rose 5.9% in Armenia in 2011, compared with 2010, National Statistical Service of Armenia reports.

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In a latest Global Economic Prospects 2012 report, the World Bank says Armenia’s economic expansion in the next two years is likely to slow down.

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Combined lending of Armenian to resident economy grows by 2.5% to overall 1.1 trillion drams.

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The world economy is slipping into double-dip recession now because of errors made before and formation of a new lifestyle, Armenian Prime Minister Tigran Sargsyan said at the seminar

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Armenian economy this year will have grown by 5 percent, economy minister Tigran Davtian said today. Speaking at a news conference he described the outgoing year as ‘economically successful,’ adding that the expansion is due to a robust industrial growth that is expected to be within 12-13 percent.

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In the Armenian economy in October 2011 growth of the indicator of economic activity by 2.6% was recorded compared to the same period of 2010.

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Armenian authorities’ right economic policy has shielded the country from grave consequences of the global crisis, Gagik Melikyan, MP from the ruling Republican Party of Armenia, said on Tuesday.

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In the Armenian economy in September 2011 growth of economic activity by 9% was registered compared to the same period of 2010, Armenian National Statistic Service informed ARKA News Agency.

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The World Bank expects Armenia’s GDP to grow by 4.5% in 2011, World Bank Country Manager for Armenia, Jean-Michel Happi, said to a news conference today.

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