IMF FORECASTS MORE THAN 10% GROWTH OF ECONOMY IN ARMENIA IN 2006-2007
19/06/06
Panorama.am
More than 10% growth of economy will be observed in Armenia in 2006-2007, Rodrigo de Rato, IMF Director-Manager told a press conference in Yerevan. In his words, IMF underestimated the pace of economic development in Armenia while forecasting GDP growth of 6-8%. Being without natural resources, Armenia reached high economic indicators which testifies about the effectiveness of its economy. “Compared to other regional countries Armenia is developing much faster,” he stressed.
In the opinion of IMF Director-Manager, growth of more than 10% and low level of inflation are indicators which can serve as basis for further stable growth of the Armenian economy.
Rodrigo de Rato also noted that the reforms implemented in the country are directed to bringing the legislation of Armenia in compliance with EU standards which makes it possible for the country to compete in the world.
GDP growth of 13.9% was reported in Armenia in 2005 against 10.1% in 2004.
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.
Panorama.am
More than 10% growth of economy will be observed in Armenia in 2006-2007, Rodrigo de Rato, IMF Director-Manager told a press conference in Yerevan. In his words, IMF underestimated the pace of economic development in Armenia while forecasting GDP growth of 6-8%. Being without natural resources, Armenia reached high economic indicators which testifies about the effectiveness of its economy. “Compared to other regional countries Armenia is developing much faster,” he stressed.
In the opinion of IMF Director-Manager, growth of more than 10% and low level of inflation are indicators which can serve as basis for further stable growth of the Armenian economy.
Rodrigo de Rato also noted that the reforms implemented in the country are directed to bringing the legislation of Armenia in compliance with EU standards which makes it possible for the country to compete in the world.
GDP growth of 13.9% was reported in Armenia in 2005 against 10.1% in 2004.
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.
posted by Vahe Balabanian at 9:00 AM
0 Comments:
Post a Comment
<< Home