ARMENIAN FINANCE MINISTER: NATIONAL BUDGET 2010 WILL BE BASED ON 1%-1.5% ECONOMIC GROWTH FORECAST
ArmInfo
2009-08-28 16:52:00
ArmInfo. The national budget 2010 will be based on 1%-1.5% economic
growth forecast, Minister of Finance of Armenia Tigran Davtyan said.
As regards the 18.5% GDP decline in Jan-July 2009, Davtyan said that
simply the growth rate of the basic pre-crisis period – 2008 – was
very high. The index of Q4 2009 will be compared with Q4 2008 when
the crisis was already existent. The basic index will be lower. As
a result, the decline will not be as dramatic.
In July 2009 as compared with June 2009 GDP grew by 6.3% to 1,417bln
AMD or 4.043bln USD. According to preliminary estimates, the economic
declined in 2009 will make up 10%-15%. In 2010 the Armenian economy
will revive.
Inflation will be very low. Some months will even see
deflation. According to the National Statistical Service of Armenia,
in Jan-July 2009 as compared with Jan-July 2008 inflation was 2.7%,
in July as compared with Dec 2008 – 2.4%. In July as compared with
June there was 2.7 deflation.
Disclaimer: This article was contributed and translated into English by Torgomian Varazdat. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2009/08/29/armenian-finance-minister-national-budget-2010-will-be-based-on-1/