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—
