The economy of Armenia failed to avoid the global recession and learned its lessons, president of the Central Bank of Armenia Artur Javadyan said on Tuesday, News Armenia reports.
He said that it is impossible to avoid the recession and provide economic stability without economic reforms and industrial growth. Javadyan noted that the recession affected the macroeconomic processes in 2010.
He said that the Central Bank was initially sticking to the support of stable development with implementation of the structure and infrastructures needed for the activities.
