"GDP growth in 2010 is expected to be within the range of 1.5-2%," Aristomene Vardukis, Head of World Bank's Yerevan office, told journalists on Friday. "Based on 2009 results, downfall in Armenia's economy will fluctuate between 9-9.5%. Situation will stabilize during the second half of the year, and by the end of 2010, we expect GDP growth within the range of 1.5-2%," he said.

World Bank predicts acceleration of economic growth in 2011-12, however, more precise economic indices will depend upon world economic situation, Varudikis added.

In January-April 2009, Armenia's economy recorded 9.7% downfall in comparison with the same period of the last year.