Armenia ranks as second CIS state registering low prices on consumer products

PanARMENIAN.Net - As of the first half of 2009, Armenia ranks as the second CIS state registering a low GDP and high prices on consumer goods. Armenian economy reduced its volumes by 16.3%. The highest GDP fall in comparison with last year was observed in Ukraine (20.3%). Russia came as the third country in the list (13.4%), following Armenia.



GDP fall was observed in almost all CIS countries, including Moldova (6.9%), Georgia (5.9%), Kazakhstan (4.1%) etc. Economic growth in the above period was registered in Uzbekistan (8.2%), Azerbaijan (3.6%), Kyrgyzstan and Belarus (0.3%).



In the meantime, industrial production volumes were reduced in all countries, except Azerbaijan and Uzbekistan. In Russia and Ukraine, they fell by 31.1% and 14.8% respectively.



Ukraine also tops the list of countries registering high prices on consumer products (17.6% for the first half of 2009). The second and third countries in the list are Belarus (14.6%) and Russia (13.1%), Lenta.ru reports, quoting CIS Statistic Committee's press release.