Armenia ‘Leads In CIS Transition To Free Market’

15, November 2005
Armenia Liberty
By Emil Danielyan

[...]
The EBRD’s latest Transition Report released late Monday rates Eastern European and former Soviet states on nine indicators of economic reform, including privatization, enterprise restructuring and price liberalization. Of all the CIS countries Armenia was assigned the highest indicator scores.

The report says the reform process in Armenia has gained fresh momentum since 2004. “Among the reforming countries in the CIS, Armenia led the way with three [indicator] upgrades – for large-scale privatization, competition regulation and banking reform,” it says.
[...]
The report also notes that the Armenian government’s tax revenues continue to make up a very modest share of GDP and that local businesses “continue to perceive the business environment as weak.”

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.