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ARMENIA'S ECONOMIC DEVELOPMENT RATES CAN BE REGARDED AS POSITIVE: WORLD BANK'S DEPUTY PRESIDENT
ARKA News Agency
Dec 14 2007
Armenia
YEREVAN, December 14. /ARKA/. The current economic development rates
in Armenia can be regarded as positive, said the World Bank's (WB)
Regional Deputy President in Europe and Central Asia Shigeo Katsu.
He pointed out that a two-digit economic growth has been recorded
in Armenia for the past years. Katsu believes these are rather
positive rates for Armenia. According to him, the country has passed
a long way after its independence, but it still has to face lots of
challenges. Armenia's economy has been pumped up with investments.
Unfortunately, they were allocated for only certain branches of
economy, WB Deputy President said.
He believes the focus now should be how to make the economic growth
more viable. For this purpose, Armenia should attract both foreign
and local investors and focus on the economic development, according
to Katsu.
13.3% economic growth was recorded in Armenia in January-October 2007
against the corresponding period in 2006, the National Statistical
Service reports.
ARKA News Agency
Dec 14 2007
Armenia
YEREVAN, December 14. /ARKA/. The current economic development rates
in Armenia can be regarded as positive, said the World Bank's (WB)
Regional Deputy President in Europe and Central Asia Shigeo Katsu.
He pointed out that a two-digit economic growth has been recorded
in Armenia for the past years. Katsu believes these are rather
positive rates for Armenia. According to him, the country has passed
a long way after its independence, but it still has to face lots of
challenges. Armenia's economy has been pumped up with investments.
Unfortunately, they were allocated for only certain branches of
economy, WB Deputy President said.
He believes the focus now should be how to make the economic growth
more viable. For this purpose, Armenia should attract both foreign
and local investors and focus on the economic development, according
to Katsu.
13.3% economic growth was recorded in Armenia in January-October 2007
against the corresponding period in 2006, the National Statistical
Service reports.