Yerevan /Mediamax/. International Monetary Fund (IMF) considers that Armenia has the most pessimistic economic prospects for 2009-2010 among the countries of the South Caucasus and Central Asia.

Mediamax reports that, according to IMF research, presented in Yerevan today, in 2009, recession will be observed only in Armenia (by 5%) and in Kazakhstan (by 2%) among the countries of the South Caucasus and Central Asia.

In 2010, GDP growth in all counties of the region is expected except for Armenia, where economic growth, following IMF forecasts, will be equal to zero.

In Azerbaijan and Georgia, IMF forecast growth of GDP respectively by 2.5% and 1% this year, and in 2010 – respectively by 12.3% and 3%.

IMF Mission Chief to Armenia Mark Lewis explained such forecasts for Armenia by abrupt decline in construction sector, which previously made the basic factor of economy growth, as well as by decrease of world prices for raw-materials, exported by Armenia.

Deputy Director of IMF Department on Middle East and Central Asia Ratna Sahay gave a positive assessment to the crisis prevention measures of the Armenian government, noting that it should continue preserving flexibility of the national currency, withstanding the risks of the financial sphere and using the opportunities of fiscal stimuli.

Mark Lewis in his turn noted the successful floating currency exchange rate policy and stabilization of international reserves of Armenia.