// IP Marketing video - START// IP Marketing video - END

Jean-Michel Happi: Armenia to register 4-5% GDP growth in 2011

Jean-Michel Happi: Armenia to register 4-5% GDP growth in 2011

PanARMENIAN.Net - Jean-Michel Happi, the World Bank Country Manager for Armenia, said that certain rehabilitation was witnessed of Armenia’s economy in 2010, with the country’s 2.4% GDP growth.

“However, we hope that as a result of implementation of the current program of reforms and tax-budgetary and debt consolidation, as well as due to improvement of the business environment in case of favorable climatic conditions, the GDP growth will amount to 4-5% in Armenia in 2011,” Happi told a press conference.

According to him, Armenia’s economy still has many weaknesses, what is proved by the decline in agriculture in 2010 and recession in the construction industry during the crisis as a result of drop in remittances.

“Stimulation of the most vulnerable fields of economy is the main challenge currently that will allow increasing the economic growth due to the private sector,” he said.

 Top stories
"There is ample proof that Monsanto's sprays have poisoned our environment contributing drastically to dying off of bees," Tankian said.
Armenia ranks 47 on the ease of doing business index against the 38 spot last year, the World Bank Group’s annual Doing Business report said.
Mountea, an Armenian company producing tea from the mountain herbs has begun to export its products to Russia.
20,149 optical-mechanical devices were manufactured in the reporting period against the 3,388 produced in the same period last year.
Partner news