Edward Sandoyan: 2009 will be a hard time for Armenia

PanARMENIAN.Net - Ex-Economy Minister Edward Sandoyan, Pro-Rector of Russian-Armenian (Slavonic University). predicts a complicated year for Armenia. "We are going to have a hard time and there are fears that next year will be complicated too. That's because no active processes are observed in Russia's economy (which faces negative processes), and much depends on our main source, i.e. foreign transfers," he told a PanARMENIAN.Net reporter.



Economist forecasts 15% economic fall in Armenia by year end. "Without exaggerating the number, I have serious fears that we'll rank as the first country in the list of CIS states. If we assume that possible growth level is mainly due to government injections, recovery of certain sectors and mitigation, I think 15 % is what we'll get, although many people forecast 10%," Sandoyan added.

Full text of the interview