Q: After years of double-digit growth, the sharp contraction of Armenia's economy in 2009 was a reality check. Last year, though, the economy rebounded. Is Armenia getting back on its feet again?
A: I think we are out of the crisis; technically we had a significant contraction of gross domestic product [GDP] in 2009 – 14.1% – but positive results in 2010, with an increase of 2.1%. The growth was fairly broad based, and it could have been even higher, about 5%, without the sharp decline in agriculture due to bad weather conditions. What we have not yet emerged from are the consequences of the crisis; we still have to overcome the weaknesses and structural vulnerabilities that the crisis has exposed us to.
