Tweet
WB VICE-PRESIDENT: ARMENIA'S ECONOMY CONTINUES SERIOUS GROWTH
ARKA News Agency
Dec 14 2007
Armenia
YEREVAN, December 14. /ARKA/. In 2007 Armenia's economy continues
serious growth, said World Bank Vice President for Europe and Central
Asia Shigeo Katsu.
He said that Armenia's economy develops very well. "The prospects of
development of Armenia's economy are quite positive, but it does not
mean that we should be satisfied. There are various challenges that
should be overcome by tense work," Katsu said.
He pointed out that "the growth of economy is accompanies by definite
pressures."
"In recent years Armenia has managed to attract supplementary means
for the economy, which led to definite pressures in revaluation of
dram and rise in prices for some products," he said.
In this connection he pointed out that the world trends of rise in
prices for oil product and foodstuff certainly influenced Armenia.
According to the Armenian National Statistical Service, the economic
growth in Armenia in January-October totaled 13.3% as compared to
the same period last year.
5.1% inflation is recorded in Armenia in November 2007 as related
to December 2006. Only in November the prices of the consumer market
rose by 2.1%, which was accounted for by seasonal changes in prices
for provisions. In November prices for foodstuff (including alcoholic
beverages and tobacco goods) rose by 3%, for non-food - 1.2%, and
tariffs for services - 0.9%.
ARKA News Agency
Dec 14 2007
Armenia
YEREVAN, December 14. /ARKA/. In 2007 Armenia's economy continues
serious growth, said World Bank Vice President for Europe and Central
Asia Shigeo Katsu.
He said that Armenia's economy develops very well. "The prospects of
development of Armenia's economy are quite positive, but it does not
mean that we should be satisfied. There are various challenges that
should be overcome by tense work," Katsu said.
He pointed out that "the growth of economy is accompanies by definite
pressures."
"In recent years Armenia has managed to attract supplementary means
for the economy, which led to definite pressures in revaluation of
dram and rise in prices for some products," he said.
In this connection he pointed out that the world trends of rise in
prices for oil product and foodstuff certainly influenced Armenia.
According to the Armenian National Statistical Service, the economic
growth in Armenia in January-October totaled 13.3% as compared to
the same period last year.
5.1% inflation is recorded in Armenia in November 2007 as related
to December 2006. Only in November the prices of the consumer market
rose by 2.1%, which was accounted for by seasonal changes in prices
for provisions. In November prices for foodstuff (including alcoholic
beverages and tobacco goods) rose by 3%, for non-food - 1.2%, and
tariffs for services - 0.9%.