Yerevan /Mediamax/. Armenian economy suffered more than others from the global economic crisis.

Mediamax reports that specialists of “Economy and Values” research center, which carried our analysis of CIS, Western Europe and the Middle East countries’ economies, have come to this conclusion.

Chairman of the Center Manuk Hergnyan stated that analysis results showed that in countries, where the current deficit was high, the economic indices were law.

In conditions with Armenia, according to Manuk Hergnyan, one of the reasons for economic decline was deformation of the economy structure, that is to say, one sector – construction, prevailed in GDP volume. Thus, 80% of economic decline in 2009 (14.4%) falls on the share of construction.

According to Manuk Hergnyan, construction in Armenia possesses great potential for further development; however, this does not mean that other sectors should stand idle.

According to Manuk Hergnyan’s forecasts, if there is no second stage of crisis observed in 2010, economic decline at the volume of 3% or increase of up to 3% can be expected in Armenia, at that inflation will make 6-9%.