Opinion: Armenia unlikely to face double-dip crisis in 2010

Economy

YEREVAN, February 25. /ARKA/. Armenia is unlikely to face double-dip crisis in 2010, Executive Director of ProCreditBank Bertold Herzfeld said in an interview with ARKA News Agency.

He thinks Armenia and its economy are expected to recover and develop stably in 2010, and after that, the country may reach considerable growth.

Herzfeld said that return of foreign investments and individual transfers from the outside would contribute a great deal to the recovery.

Besides, new resources should be mobilized inside the country.

In the 2010 state budget, GDP growth is planned at 1.2%.

European Bank for Reconstruction and Development and International Monetary Fund predict 2% economic growth in Armenia in 2010. -0–

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