Emil Soghomonyan: Economic downturn in Armenia not to exceed 10 per cent
Economic downturn in Armenia will not exceed 10 per cent, Emil Soghomonyan , chairman of the Union of Banks of Armenia said.
According to him, a certain decline will be observed, but in 2010 Armenia will have a zero growth. "I am confident, the economic situation will move towards growth," he said.
In this context, the Emil Soghomonyan informed that a huge inflow of funds is expected into Armenian economy.
As he reminded, this year Armenia will receive 80 million euros from the European Bank for Reconstruction and Development, 50 million dollars form the World Bank loan and 500 million dollars of the Russian loan. According to him, Armenian banks also attract funds independently.
The next year Armenia will be able to reach homestretch, Mr. Soghomonyan concluded.
According to him, a certain decline will be observed, but in 2010 Armenia will have a zero growth. "I am confident, the economic situation will move towards growth," he said.
In this context, the Emil Soghomonyan informed that a huge inflow of funds is expected into Armenian economy.
As he reminded, this year Armenia will receive 80 million euros from the European Bank for Reconstruction and Development, 50 million dollars form the World Bank loan and 500 million dollars of the Russian loan. According to him, Armenian banks also attract funds independently.
The next year Armenia will be able to reach homestretch, Mr. Soghomonyan concluded.
