Armenia's GDP change can vary from -3 to +3 per cent in 2010

PanARMENIAN.Net -
If the second wave of the crisis does not hit the world economy, Armenia's GDP in 2010 would change from -3% to +3 per cent, Manuk Hergnyan , chairman of the "Economy and Values” research center told a press conference on February 11 in Yerevan. However, according to him, the inflation rate within the current year can vary from 6 to 9 per cent.



The national currency exchange rate is not likely to undergo sharp depreciations. "Economy and Values” research center proposed to the Government of Armenia to develop a strategic model of stable development of the country.



"We need to develop a model of sustainable development, instead of having the economy, where the money remittances fuel the construction sphere, experiencing problems with deficit," he said.



In addition, according to Hergnyan, long-term strategy of Armenia cannot rely on the fact that the country has open communications, since "they can close". The model of sustainable development should be based on the lessons Armenia learnt in a crisis, as well as on technological potential, on the knowledge-based economy. Budgeted growth is expected at 1.2 per cent, inflation is projected at 4 ± 1.5 per cent.