WB: RECESSION OF ARMENIAN ECONOMY SUSPENDS

PanARMENIAN.Net
31.08.2009 14:15 GMT+04:00

/PanARMENIAN.Net/ Decline of Armenia's economy within June-July was
suspended, Aristomene Varoudakis , the head of World Bank Yerevan
Office, said. "Despite the significant slowdown of the economy, certain
positive trends in July compared with June, are encouraging," he said.

"Many of the changes are temporary in nature, but in general it
appears that the decline of the economy stalled," Mr. Varoudakis
said. According to him, in July compared to June 2009, construction
industry turnover (the worst affected sphere) increased by 4,5 per
cent, industrial production grew by 6 per cent, electricity output
grew by 2 per cent.

As for inflation, as the World Bank projects, at the end of the year
it will amount to about 6 per cent.