Armenian market quickly recovers after post-election tension

Armenian market quickly recovers after post-election tension

YEREVAN, May 8. /ARKA/. It took quite a short time for Armenian market
to come round after the post-election tension. Arsen Ghazaryan,
Chairman of the Union of Manufacturers and Businessmen of Armenia, said
in an interview to ARKA.

From February 20 to March 1, Armenia’s opposition political forces led
by ex-president Levon Ter-Petrosyan were holding rallies in Liberty
Square in Yerevan protesting against the results of February 19
presidential elections in which Prime Minister Serge Sargssyan won.

The rallies turned into clashes between the rally participants and the
police in which 265 people suffered, ten were killed and 100 were
arrested. On March 1, RA President Robert Kocharyan issued a decree on
imposing a twenty-day state of emergency in the capital.

The first quarter economic results corresponded to the planned
showings, Kazaryan said. The temporary destabilization in financial
assistance programs was successfully overcome. `Our European partners
have all revived the projects they had temporarily suspended,’ Kazaryan
said. The year cannot be considered as a lost one from economic
viewpoint, he noted.

RA National Statistical Service says Armenia recorded 9% economic
growth in the 1st quarter of 2008 as compared to the corresponding
period last year. March’s GDP exceeded February’s result by 20.8%.

Armenian State Budget anticipates 10% GDP growth in 2008. `0–

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