  Economic slump in Armenia may exceed 16%July 7, 2009 - 13:10 AMT PanARMENIAN.Net - Armenian Prime Minister Tigran Sargsyan said economic slump in the republic may exceed 16%."The slump is conditioned by problems in construction industry, which has a multiplicative impact on all other sectors of economy," Mr. Sargsyan said during "Impact of the Global Crisis on Armenia: Short- and Long-run Perspectives" international conference. "We expect deterioration in the coming months but the situation may improve by the yearend," he said. The economic slump in Armenia made 15.7% during the period from January to May. The slump in construction industry reached 56.1%.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Related sections Latest news Aliyev travels to Turkey at Erdogan's invitation  On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit.CSTO budget “to be adjusted due to Yerevan’s non-payment of contributions” The CSTO budget for the current year requires adjustments due to the refusal of Yerevan to pay their share of contributions.Russia sends note of protest to Armenia over envoy’s trip to Ukraine’s Bucha Russia has sent a note of protest to Armenia over the visit of Vladimir Karapetyan and Tigran Ter-Margaryan to Bucha.Armenia: Protesters march to parliament, some spend the night on street The protesters did not disperse despite heavy rain that began at around 2 a.m. local time. |
