Economic slump in Armenia may exceed 16%
Armenian Prime Minister Tigran Sargsyan said economic slump in the republic may exceed 16%.
"The slump is conditioned by problems in construction industry, which has a multiplicative impact on all other sectors of economy," Mr. Sargsyan said during "Impact of the Global Crisis on Armenia: Short- and Long-run Perspectives" international conference.
"We expect deterioration in the coming months but the situation may improve by the yearend," he said.
The economic slump in Armenia made 15.7% during the period from January to May. The slump in construction industry reached 56.1%.
"The slump is conditioned by problems in construction industry, which has a multiplicative impact on all other sectors of economy," Mr. Sargsyan said during "Impact of the Global Crisis on Armenia: Short- and Long-run Perspectives" international conference.
"We expect deterioration in the coming months but the situation may improve by the yearend," he said.
The economic slump in Armenia made 15.7% during the period from January to May. The slump in construction industry reached 56.1%.
