Former head of Armenian Central Bank: Armenia breaks records for rate of economic downturn

By the end of this year, the decline of Armenia's GDP will be not 11-13 percent as predicted by the government, but 15 percent given the fact that economic indicators for the current month is much worse than projected, he said.

Compared to the same period of last year, this year's GDP fell more than 400 billion drams, 200-220 billion of which accounts for capital construction.  

“The decline in production totals 100 billion drams.”

Asatryan said Armenian economy has been undergoing shadow processes that can not be prevented even by especial government measures.

/ARMENIA Today/