At Least 11% Decline over 2 Years, Says Armenia’s Former Central Bank President

The Armenian public lives worse on Nov. 22 of this year than they did last year on Nov. 22, said former president of Armenia’s Central Bank Bagrat Asatryan.

“We will have economic growth this year, but not due to the fact there are positive processes, but because last year’s [economic] decline was quite big. I want to remind [you] that early last year, I had predicted a two-digit economic decline. The figure I was quoting was 10–11%. An outcome of 15% surprised even me,” he said. 

According to his forecast, an economic decline of no less than 11% will be recorded in Armenia over a two-year period.