[Web Wrap]: Road to Recovery: Armenia Upbeat on Growth Prospects, IMF Shares Optimism.

June 11, 2010

Via ArmeniaNow

Armenia is considering a more optimistic growth scenario this year after showing a faster-than-expected recovery from last year’s steep economic decline so far this year.

Prime Minister Tigran Sargsyan said on Thursday that the anti-crisis measures taken by his government have yielded positive results helping the country overcome its worst recession in years.

Armenia’s economy had been expanding at a double-digit rate since 2001, but the growth ended last year and gave way to a 14.4 percent decline amid the deepening fallout from the global economic recession. At the end of last year the government forecast a modest 1.2 percent economic growth for 2010. The 7.2 percent year-on-year growth posted for January-April this year has provided grounds for expecting a higher full-year growth.

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Students at GTech,
one of FAR’s economic development programs


Credit: Felix Arustamyan

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