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WORLD BANK PROJECTS 4-5% FULL-YEAR ECONOMIC EXPANSION FOR ARMENIA THIS YEAR
ARKA
November 2, 2010
YEREVAN
YEREVAN, November 2, /ARKA/. The World Bank projects a 4-5% full-year
expansion for Armenia's economy this year, head of World Bank Yerevan
Office, Jean-Michel Happi, told ARKA today. The projection is up
from a 1.2% GDP growth forecast by the government. The International
Monetary Fund projects that Armenian economy may grow by 4.8%. Mr.
Happi said after a 14% decline last year the WB expect the Armenian
economy to grow this year by 4-5%.
He said the World Bank is cooperating closely with Armenian ministries
of finance and economy, the Central Bank and IMF to support government
programs designed to secure sustainable growth.
'Armenia has posted quite good results in enforcing reforms and in the
area of administration and we closely cooperate with its authorities
to maintain the current involvement level,' he said.
Mr. Happi said also the government's anti-crisis measures enabled the
most vulnerable segments of the population to withstand the fallout
from the 2009 global crisis. It was also instrumental to preserve the
macroeconomic situation, according to him. He added, however, that
the impact was so severe that it could not fail to affect the living
of many Armenian citizens resulting in growth of poverty. He said the
government reforms are aimed on one hand at ensuring economic growth,
supporting private sector, creation of new jobs, fostering exports
and on the other at supporting the social sector.
From: A. Papazian
ARKA
November 2, 2010
YEREVAN
YEREVAN, November 2, /ARKA/. The World Bank projects a 4-5% full-year
expansion for Armenia's economy this year, head of World Bank Yerevan
Office, Jean-Michel Happi, told ARKA today. The projection is up
from a 1.2% GDP growth forecast by the government. The International
Monetary Fund projects that Armenian economy may grow by 4.8%. Mr.
Happi said after a 14% decline last year the WB expect the Armenian
economy to grow this year by 4-5%.
He said the World Bank is cooperating closely with Armenian ministries
of finance and economy, the Central Bank and IMF to support government
programs designed to secure sustainable growth.
'Armenia has posted quite good results in enforcing reforms and in the
area of administration and we closely cooperate with its authorities
to maintain the current involvement level,' he said.
Mr. Happi said also the government's anti-crisis measures enabled the
most vulnerable segments of the population to withstand the fallout
from the 2009 global crisis. It was also instrumental to preserve the
macroeconomic situation, according to him. He added, however, that
the impact was so severe that it could not fail to affect the living
of many Armenian citizens resulting in growth of poverty. He said the
government reforms are aimed on one hand at ensuring economic growth,
supporting private sector, creation of new jobs, fostering exports
and on the other at supporting the social sector.
From: A. Papazian