YEREVAN (ARKA), April 8–The Armenian economy has already started recovering, Armenian Finance Minister Tigran Davtyan said Wednesday in the National Assembly. 

“Armenia has already stabilized its economy and is now embarking on recovery. This process will take certain time from us,” he said. 

The minister said that a precipitous fall in macroeconomic indicators, high social tension and economic difficulties are main characteristics of any crisis. 

Davtyan thinks that Armenia has already come out of the crisis and the national economy started growing this year. 

He said that the country reached the peak of the crisis in July 2009, but in August stabilization began. 

The minister said that signs of recovery are already visible, and year-on-year growth of economic indicators was seen yet in January 2010. 

According to National Statistical Service of Armenia, an 18.5 percent economic decline was recorded in the country in January-July 2009, and GDP amounted to 1.41 billion dram.

GDP decreased 18.4 percent in January-August 2009 to 1.76 billion dram. 

Davtyan said that recovery of the economy is a time-consuming process that needs great efforts. 

“I think we need one or one and a half years to reach pre-crisis indicators,” he said.

Armenia recorded 3.1 percent year-on-year economic growth in January-Febuary 2010. The GDP amounted to 3.21 million dram and the index deflator was recorded at 110.6 percent.