“Economic performance of the country summarized in September, are quite encouraging, and we can say that in August and September stabilizing trends have been observed in the Armenian economy,” RA Minister of Finance of Armenia Tigran Davtyan told a press conference in Yerevan today.
According to him, the economy has undergone through its critical downturn in July 2009, when the GDP drop reached 18.5 per cent as compared with the previous year. Within recent months small but steady growth at 0.1 per cent has been outlined. “This suggests that after October, we can show an economic recovery,” the minister said.
The minister of finance expressed certain confidence that the stabilizing trends will be soon replaced by the growth.
According to the data of the National Statistical Service of Armenia, Armenia’s GDP in January-September 2009 decreased by 18.3 per cent against the same period in 2008.
