European Bank for Reconstruction and Development (EBRD) forecasts slowdown in Armenian economy.

“Despite the fact that the situation in Armenia is stable, we expect slowdown in GDP growth,” Managing Director of European Bank for Reconstruction and Development (EBRD) for Turkey, Eastern Europe, Caucasus and Central Asia told a press conference on March 7. In this context, he added that economists foretell 3% GDP growth in Armenia in 2012.

According to Olivier Descamps, Armenia managed to restore its economy following the previous crisis due to implementation of cautious fiscal policy.

“This ensured continued growth of GDP and decline in inflation,” he said.