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FORMER ARMENIAN PRIME MINISTER QUESTIONS ECONOMIC GROWTH PROJECTIONS
ARKA
November 2, 2010
YEREVAN
YEREVAN, November 2, /ARKA/. Former Armenian prime minister Hrant
Bagratian questioned today all economic growth projections made for
this year, saying the government will claim at the end of the year
that it has overfulfilled the 1.2% GDP growth, forecasted by it for
2010. Speaking at a news conference he said there will be no growth
at all.
According to government data, Armenian economy expanded 2.8%
in Jan.-Sept. year-on-year. The World Bank projects that it will
grow this year by 4-5% while IMF's projection is 4.8%. The ex-prime
minister who served in the administration of first post-Soviet Armenian
president Levon Ter-Petrosian, questioned also the reliability of high
growth indicators posted for the first half of the year, saying those
figures should be interpreted cautiously because they were compared
with 2009 when Armenian was hit severely by crisis.
'We have gone down back to 2007 level. The industrial outcome grew a
little this year, but only in comparison with last year, when our
economy saw an unprecedented slump. Now we are seeing a growth,
but it does mean the economy is growing,' he said.
According to official figures, Armenian industrial output rose by
10.9% in Jan.-Sept. year-on-year to total 579.1 billion Drams. The
former prime minister projected also a 7-10% inflation rate growth
for the year, up from 4% (±1,5%), projected by the government. In
Jan.-Oct. this year it rose to 7.9%, according to official figures.
From: A. Papazian
ARKA
November 2, 2010
YEREVAN
YEREVAN, November 2, /ARKA/. Former Armenian prime minister Hrant
Bagratian questioned today all economic growth projections made for
this year, saying the government will claim at the end of the year
that it has overfulfilled the 1.2% GDP growth, forecasted by it for
2010. Speaking at a news conference he said there will be no growth
at all.
According to government data, Armenian economy expanded 2.8%
in Jan.-Sept. year-on-year. The World Bank projects that it will
grow this year by 4-5% while IMF's projection is 4.8%. The ex-prime
minister who served in the administration of first post-Soviet Armenian
president Levon Ter-Petrosian, questioned also the reliability of high
growth indicators posted for the first half of the year, saying those
figures should be interpreted cautiously because they were compared
with 2009 when Armenian was hit severely by crisis.
'We have gone down back to 2007 level. The industrial outcome grew a
little this year, but only in comparison with last year, when our
economy saw an unprecedented slump. Now we are seeing a growth,
but it does mean the economy is growing,' he said.
According to official figures, Armenian industrial output rose by
10.9% in Jan.-Sept. year-on-year to total 579.1 billion Drams. The
former prime minister projected also a 7-10% inflation rate growth
for the year, up from 4% (±1,5%), projected by the government. In
Jan.-Oct. this year it rose to 7.9%, according to official figures.
From: A. Papazian