EC forecasts 4% GDP fall in EU member statesMay 4, 2009 - 20:24 AMT PanARMENIAN.Net - According to EC recent forecasts, GDP in EU member states will fall by 4% in 2009, but is expected to stabilize in 2010.According to European Commission experts, economic index fall will slow down in the second half of 2009, before recovering moderately in 2010. As a result of the economic crisis, unemployment rate will rise by 11%. According to absolute indexes, 8.5 million people in EU member states will lose their jobs in 2009-10, despite the fact that 9.5 million workplaces were opened in the region in 2006-08. Budget deficit in EU member states is expected to make up 6% GDP in 2009 and 7.25% in 2010. For comparison, let's note that GDP budget deficit in EU member states made up 2.3% in 2008 According to EC experts, inflationary pressures will abate during the second and third quarters of the current year, falling by 1% in EC member states and 0.5% in Euro zone. In 2010, the inflation rate will increase tp 1.25%. In view of global economic crisis, the EC forecasts are deemed highly questionable. There's a great risk that the situation may turn out much worse, depending on the crisis impact. On the other hand, experts believe that fiscal and international monetary policy will be highly effective in restoring economic stability. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children Moscow slams EU mission in Armenia for “provocative activity” The EU mission is doing more and more against Armenia’s neighbors Russia, Azerbaijan and Iran, Mikhail Galuzin said. Yerevan Mayor to travel to Paris on May 15-19 The official delegation headed by Yerevan Mayor Tigran Avinyan will travel to Paris from May 15 to 19. Armenia, India hold first defense consultations The meeting was attended by Indian Ambassador Nilakshi Saha Sinha and Defense Attaché Brigadier General Naveen Nijhawan. |