Armenian Prime Minister: We Still Feel The Strong Impact Of The Glob

ARMENIAN PRIME MINISTER: WE STILL FEEL THE STRONG IMPACT OF THE GLOBAL CRISIS AND REDUCTION IN SOLVENT DEMAND

ArmInfo
2009-06-09 16:45:00

ArmInfo. "Since our meeting in Astana we have witnessed no conceptual
changes in economy. We still feel the very strong impact of the global
crisis and reduction in the population’s solvent demand, which is the
main factor affecting all the macro-economic indices of our country",-
Armenian Prime Minister Tigran Sargsyan said at the 23rd sitting of
the EurAzES Interstate Council at the level of heads of governments,
Monday.

According to him, the policy of the Armenian Government and Central
Bank is expanding today. "We have abruptly increased the budget
deficit, and it will be about 7% in 2009. The inflation level is still
low enough, we have no fears that the inflationary pressure will be
high this year. We’ll complete this year with 4-5% inflation",- the
Armenian prime minister said and added that the anti-crisis measures
taken by Armenia are actually similar to those being taken in EurAzES
countries. They dampen the impact of the global financial and economic
crisis, but, certainly, they cannot completely remove the negative
impact existing today. "Our forecast for 2010 is careful. We’ll draw up
the budget estimating the economic growth at 1-2%, the budget deficit
will also be high enough – about 5-6%. The Central Bank and Government
of Armenia will continue the expanding policy to take countercyclical
measures to stimulate the economy",- Tigran Sargsyan stressed.

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