Yerevan /Mediamax/. Head of World Bank (WB) Yerevan Office Aristomene Varoudakis made positive assessment of crisis prevention measures of the Armenian Government, noting that despite difficulties, Armenian leadership managed to “secure sufficient macroeconomic frames”.

Mediamax reports that the Head of World Bank Yerevan Office Aristomene Varoudakis stated at a news conference in Yerevan today the necessity to continue the policy of fiscal and macroeconomic stability, at that paying special attention to non-secure layers of the population.

According to WB forecasts, Armenia’s GDP in 2009 will reduce 9-10%, and in early 2010, small growth of the economy is expected, which will make 1-2% following the results of the year.

Concerning maintenance of the external debt by Armenia, Aristomene Varoudakis noted that there are no difficulties as to the given issue, since the loans are provided mainly at preferential terms.

According to him correlation of Armenia’s state debt to the GDP now makes 13%, however in 2011, the index will reach 45%. “This, of course, is a high index, especially if we compare it with the volume of tax proceeds to the GDP (15%-16%)”, Aristomene Varoudakis stated. “We expect that simultaneously with economy stabilization, decline in the correlation of the state debt to the GDP to 30% will take place”, Head of WB Yerevan Office noted.