Еconomic processes in Armenia consistent with global trends

PanARMENIAN.Net - Economic downturn of Armenia can reach 12-15 per cent in 2009, Vartan Aramyan, Deputy Finance Minister of Armenia told press conference in Yerevan today.



The official noted that over the first six month the economic downturn in Armenia had already reached 16.3 per cent. According to him, the construction and industrial production spheres recorded highest declines: 53.5 and 11.5 per cent respectively.



Vardan Aramyan also reported that the observed decline was much greater than it was predicted earlier.



According to him, a similar situation is observed in the world economy, when the decline was greater than predicted, particularly within the second quarter of this year, the EU was registered 6 per cent decline. Еconomic processes in Armenia are fully consistent with global trends, Vardan Aramyan said.