{"id":3558,"date":"2009-11-09T16:29:55","date_gmt":"2009-11-09T16:29:55","guid":{"rendered":"https:\/\/armbanks.am\/2009\/11\/09\/230083\/"},"modified":"2024-12-15T12:45:08","modified_gmt":"2024-12-15T12:45:08","slug":"bagrat-asatryan-economic-decline-in-armenia-to-reach-15-by-late-2009","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2009\/11\/09\/3558\/","title":{"rendered":"Bagrat Asatryan: economic decline in Armenia to reach 15% by late 2009"},"content":{"rendered":"<p><strong>YEREVAN, November 9. \/ARKA\/.<\/strong> Bagrat Asatryan, the director general of Garni Invest Universal Credit Organization and a former chairman of the Central Bank of Armenia, thinks Armenia will record 15-percent economic decline in 2009.<\/p>\n<p>International Monetary Fund predicts 15.2 to 15.6% GDP reduction in 2009, World Bank forecasts 12 to 14% economic decline and Armenian Finance Ministry finds 10 to 15% decline likely.<\/p>\n<p>\u201cThe 15-percent economic decline, compared with 20% GDP reduction recorded at the fourth quarter 2008 against the results of the previous quarter, by no means shows positive progress in Armenia\u2019s economy \u2013 this is rather improvement of comparative indicators than progress,\u201d Asatryan said.<\/p>\n<p>He thinks certain sectors will face their output reduction in the fourth quarter, as it was in previous years.<\/p>\n<p>In particular, certain season sluggishness will be seen in agriculture and the planned stoppage of the nuclear power plant will drive energy sector\u2019s indicators down.<br \/>\nThe Central Bank\u2019s former chairman is also skeptical about positive progress in industry.<\/p>\n<p>He sees no grounds for optimistic outlook for the next year.<\/p>\n<p>Asatryan thinks two-percent GDP decline may be recorded in 2010.<\/p>\n<p>\u201cThe sectors driving the economy down are already seen. First of all, these are trade and services. Industry will at best retain the present stagnation.\u201d<\/p>\n<p>The Central Bank of Armenia expects one-percent economic growth in Jan-Sept 2010.<\/p>\n<p>The bank also thinks the industry\u2019s VAT will grow 0.1% thanks to expected growth in metallurgy and energy sectors.<\/p>\n<p>Construction VAT is expected to grow 1.7% thanks to construction in energy, transport and communication areas.<\/p>\n<p>Agriculture and services\u2019 VAT is predicted to grow 3.8% and 0.7%. &#8211;0&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bagrat Asatryan, the director general of Garni Invest Universal Credit Organization and a former chairman of the Central Bank of Armenia, thinks Armenia will record 15-percent economic decline in 2009.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15837,12269,12270,12178],"class_list":{"0":"post-3558","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy-en","7":"category-news","8":"tag-armenia-2","9":"tag-asatryan","10":"tag-decline","11":"tag-economic"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/3558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=3558"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/3558\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=3558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=3558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=3558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}