Armenia will become average income country by 2025: World Bank officialSeptember 11, 2017 - 17:19 AMT PanARMENIAN.Net - Armenia will be able to become an average income country by 2025 by implementing the reform project it has adopted, Cyril Muller, World Bank Vice President for Europe and Central Asia, said on Monday, September 11. "Today's Armenia differs greatly from the country that joined the World Bank 25 years ago," Muller said. According to him, when Armenia joined the WB, it was one of the Soviet Union's rising economies but due to a serious foreign currency shortage and the collapsed industry, real wages rapidly declined in 1992. Throughout the 4-5 years after the fall of the Soviet Union, Armenia managed to recover from the initial shock, he said. Muller said that the Armenian government has adopted a pretty ambitious reform project, expressing hope to later discuss it with the prime minister. Also, Muller added the World Bank has learnt a lesson or two from Armenia which will be implemented in other countries. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. CSTO recognizes Armenia’s sovereign right to withdraw Tasmagambetov has said that if Armenia decides to leave the organization, “it will be the sovereign right of Armenia.” Ex-President: Only removal of “defeatist” rulers can save Armenia Former Armenian President Serzh Sargsyan has shared a message on the 109th anniversary of the Armenian Genocide. |