Armenia's GDP drops in 2009, but no decline in living standards

According to Asatryan, in 2008, Armenia’s GDP was $12 billion USD, while in 2009, it shrunk significantly — to $8.1 billion USD. But this drop did not cause a decrease in living standards by 30 percent as would be logical.

The reason, he explained, is that “several realities in our country are not related with each other.”

“We live in a country of distorted mirrors where one need not trust even the statistics,” Asatryan said.

In his words, in 2009, not only there was not any progress but also people’s trust declined in authorities and in justice.

Instead, the country was overwhelmed with an atmosphere of despair and also problems which it faces today.

While speaking about the 2010 forecasts, the former Central Bank director said that instead of a 1.2 percent projected economic growth, he expects a 3-4-percent economic drop.

Because of bad weather conditions, according to him, significant losses will be seen in agriculture — one of the main sectors contributing to the development in economy.

/Tert.am/