EBRD says Armenia's EEU membership promising solution

 October 14, 2015 - 18:10 AMT

PanARMENIAN.Net - The European Bank for Reconstruction and Development (EBRD) promised to revise its forecasts and re-examine the macroeconomic indicators concerning Armenia’s economic growth, Tert.am reports.

“The negative forecast predicting a -1.5% growth for 2015 is likely to increase to 1-3% by the end of the year,” Head of the Bank’s Armenian Resident Office Mark Davis told a press conference on Wednesday, October 14.

He noted that Armenia is very susceptible to regional stresses, which essentially affect foreign transfer volumes, reducing the population’s purchasing power and making the currency market instable. According to Davis, all those developments influenced the investment volumes, which will be summed up in their 2015 concluding report.

He added the 4.2% increase in the economic activity index was mainly conditioned by this year’s positive dynamics in agriculture and the recently launched copper mine.

Agreeing that Armenia’s membership in the Eurasian Economic Union is really a good opportunity for the country, Davis said future development perspectives depend on the procedures of arranging the transit transportation of goods.

According to him, the Armenia-Iran transit route project is a better opportunity for the country.