Armenia recorded 15% economic slump in 2009
Armenia's economy will record 15% slump for 2009, according to Minister of Finance Tigran Davtyan.
"Over the past 11 months, economy began to recover, with the slump decreasing from 18% to 16%, he told a news conference in Yerevan.
At that, the Minister noted that annual inflation rate will comprise 5-5.5%, the figure not going beyond the limit envisaged by the national budget.
As to increased retail trade volumes, he explained it by the introduction of checkouts and payment of check bonuses which totaled AMD 3.5 billion. "Positive results in that direction were 2-2.5 times more," he said.
Besides, average salary increase over the past 11 months made 11%, with the growth in budgetary organizations reaching 16%.
"Over the past 11 months, economy began to recover, with the slump decreasing from 18% to 16%, he told a news conference in Yerevan.
At that, the Minister noted that annual inflation rate will comprise 5-5.5%, the figure not going beyond the limit envisaged by the national budget.
As to increased retail trade volumes, he explained it by the introduction of checkouts and payment of check bonuses which totaled AMD 3.5 billion. "Positive results in that direction were 2-2.5 times more," he said.
Besides, average salary increase over the past 11 months made 11%, with the growth in budgetary organizations reaching 16%.
