IMF FORECASTS GDP REDUCTION IN ARMENIA IN 2009

ARKA
March 3, 2009
YEREVAN

IMF forecasts a GDP deficit in Armenia this year, said IMF Permanent
Representative in Armenia Ninke Oomes.

According to IMF projections, red ink of Armenia’s GDP will reach 1.5%
this year. The country posted 7% GDP growth last year, compared to 14%
in 2007.

IMF forecasts 8% inflation in Armenia by end-2009, Oomes said.