ARMENIA TO GROW 8.3 PER CENT IN 2009
ARKA
Nov 25, 2008
YEREVAN, November 25. /ARKA/. According to the forecast of the European
Bank for Reconstruction and Development (EBRD), Armenia will record
8.3% grow in economy next year.
In Armenia the economy is expected to grow 10.0% in 2008 against 13.8%
in 2007.
According to EBRD senior economist Anita Taci growth in Armenia will
slightly decline this year and in 2009 compared with 2007.
She stated Armenia’s high dependency on remittances, however, could
mean serious exposure to the developments on foreign markets – in
particular in Russia – as Armenian guest workers will find it more
difficult to support a family.
The EBRD sees growth in Central Europe and the Baltics (CEB) slowing
to 4.3 per cent in 2008 from 6.3 per cent last year and easing further
to 2.2 per cent in 2009. Growth in south-eastern Europe is seen rising
to 6.5 per cent this year from 6.2 per cent in 2007 and then falling
back to 3.1 per cent next year. Growth in the CIS and Mongolia is
predicted to slow to 7.3 per cent this year from 8.5 per cent and to
drop to 3.4 per cent in 2009.