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President: Armenia Hopes To Retain Fast Economic Growth

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  • President: Armenia Hopes To Retain Fast Economic Growth

    PRESIDENT: ARMENIA HOPES TO RETAIN FAST ECONOMIC GROWTH

    ARKA
    Dec 2, 2008

    YEREVAN, December 2. /ARKA/. Armenia hopes to retain fast economic
    growth and low inflation rate despite the global crisis, Armenian
    President Serzh Sargsyan said Tuesday at a session of the presidential
    committee on atomic energy safety.

    He views the current macroeconomic situation as stable and predictable.

    The head of state stressed that high capitalization of Armenian banking
    system makes it possible to mitigate the outside impact on Armenia.

    "We understands that it is impossible to get out of the crisis without
    losses, but the losses can be minimized", Sargsyan said.

    National Statistical Service of Armenia says that 9.2% economic growth
    was recorded in Armenia in Jan/Oct 2008, compared with the same period
    of the previous year.

    Inflation was recorded at 5.1% in November 2008, compared with
    December 2007.

    November's year-on-year inflation was 6.6%.
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