Armenia’s economy will shrink by 5.8 percent in 2009, more than originally feared, the Central Bank of Armenia (CBA) predicted on Tuesday.
Armenian Ministry Posts Decline in Industrial Output
YEREVAN (RFE/RL)–Armenia has seen a dwindling output of its industrial enterprises so far this year, according to the data of a monitoring conducted by the country’s Economy Ministry. Hayk Mirzoyan, a Ministry official in charge of economic development according to branches and territories, told the media on Wednesday that despite the overall decrease in industrial…
Premier Outlines Global Crisis Risks for Armenian Economy
YEREVAN (RFE/RL)–Armenia’s prime minister spoke of the risks that the country faces in view of the continuing global economic crisis as he visited parliament for a state budget debate Wednesday. Addressing lawmakers from the parliament tribune Tigran Sargsyan said Armenia is ready to face up to the challenge and make sure the crisis has a…
Armenia Sets New Development Targets
YEREVAN (RFE/RL)–Armenia’s government approved on Thursday a long-term economic program that commits it to achieving over the next decade much greater prosperity already enjoyed by the European Union’s new, formerly Communist, member states. “Our target is the level of economic development of eastern and central European countries,” said Finance Minister Tigran Davtian. “The program envisages…