YEREVAN, June 18. /ARKA/. Aristomene Varoudakis, head of World Bank Yerevan Office, said today Armenia has left behind the most critical phase of the economic crisis.
Speaking at a news conference he said the economy expanded by 7.2% in January-April of 2010, while the inflation is falling after rising for some time.
The Armenian government has projected a 1.8% economic growth for 2010, while the International Monetary Fund has projected a 4% growth and a 6% inflation. The inflation rate rose to 8% if compared to the first 4 months of 2009. The government has projected a 4% (±1,5%) inflation rate for 2010.
According to Mr. Varoudakis, the government’s anti-crisis program that was endorsed by the World Bank and other international partners of the government, is yielding its results. -0-
