Sun, 26 October
18.1 C
Yerevan
USD: 383.05 RUB: 4.73 EUR: 444.80 GEL: 141.19 GBP: 510.03

Finance Minister: 15-percent decline very likely in Armenia in 2009

YEREVAN, October 28. /ARKA/. Economic decline in Armenia is believed to be recorded at 15% this year, Armenian Finance Minister Tigran Davtyan said on Wednesday.

He told journalists that economic decline hit the record low, 18.5%, in July.
After that the national economy started stabilizing, and now it is recovering.
It means the 18.5 economic decline will come close to 15% later this year.

Davtyan said that the base started reducing in September 2008 because of the crisis.
That is why it will be easier to ensure growth this October than in past years.

“We have managed to slow down the decline by 0.1 percentage points over the period between August and September. It makes more visible progress very likely in November and December,” the minister said.

He said that Armenian authorities’ outlook coincides with international organizations’ forecasts.

“If the decline slows down as expected, the upcoming recovery will become realistic.”

International Monetary Fund and World Bank predict 12 to 15% economic decline in Armenia in 2009. –0—

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

LATEST NEWS

spot_imgspot_imgspot_img