RA Finance Ministry forecasts 10-15% GDP fallAugust 28, 2009 - 15:22 AMT PanARMENIAN.Net - GDP index in 2009 will fluctuate within the range of 10-15%, RA Finance Minster Tigran Davtyan finds. "From annual perspective, GDP index will be more encouraging, lower than 18%".As noted by Minister, different mechanisms, methodologies and approaches are used for predicting GDP index. They each have their peculiarities, and the results obtained certainly differ, although very slightly. "Clear-cut prognosis present an intricate mechanism depending on many indexes, and economy is such a complicated system that cannot cover all the indexes," Mr, Davtyan said. With regard to the prognosis for 2010, Minister said that economy is expected to gradually recover in that period. "We predict 1-1.5% economic growth, and the budget currently elaborated by Ministry is based on such forecasts," he said. Minister does not anticipate inflation rate to exceed the predicted level. Moreover, there has been seasonal deflation during the past month. "We anticipate a very low inflation rate in the country for the coming year," Davtyan said. In January-July 2009, inflation rate in Armenia made up 2.7% in comparison with the same period of last year. Deflation rate in comparison with June made up 2.7%. According to State Budget, inflation in 2009 is on the level of 4% ((±1,5%). Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | U.S. warns Georgia not to side with Moscow against the west Georgia has been warned by the U.S. not to become an adversary of the west by falling back in line with Moscow. 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. |