Armenian economic growth to reach 3.7% this year

Michael Verdian, a researcher with FOREX Club Group thinks that GDP growth in Armenia will reach 3.7% by the end of 2010. Analysts and officials are satisfied with the results. It was also mentioned that total GDP is also increasing and by the end of this year it will reach almost USD 7 billion. There are positive trends in industry, transportation, communications and trade sectors. Of course the world financial crisis affected Armenia’s economy but the country seems to begin recovering from the crisis at the end of 2009. However Verdian mentioned that inflation in Armenia is rising and there are shortcomings in the agricultural sector and Armenian state debt is around USD 3 billion.