Armenia’s economic growth not to face further deceleration

PanARMENIAN.Net - Development Director of Ameriabank CJSC Tigran Jrbashyan said that Armenia’s economic growth will not face further deceleration.

According to him, the bank experts predicted higher paces of Armenia’s economy growth already in the beginning of 2010, after which they should have slackened.

The banker pointed to two basic reasons behind it. According to him, there is a growth of a comparative basic index recorded in autumn 2009 rather than decline in the country’s economy. As for the second reason, according to Jrbashyan, it is an unprecedented decline in agriculture. Nevertheless, this factor has not affected the bank credit portfolio, as agricultural loans make a small share in Ameriabank’s credit portfolio.

At the same time, Tigran Jrbashyan noted that Armenia’s economic growth will exceed 1.2% index envisaged by the state budget.