EBRD forecasts 1.5 per cent GDP growth in Armenia in 2010

PanARMENIAN.Net - The Åuropean Bank for Reconstruction and Development (EBRD) forecasts 1.3 to 1.5 per cent economic growth in Armenia, said Valeriu Razlog, head of EBRD Yerevan  RO.



"Our forecasts for the Armenian economy in 2010 are a little more optimistic than assessments made by the government. We forecast 1.3 to 1.5 per cent GDP growth in Armenia this year, which is slightly different from the government's estimations," he told a PanARMENIAN.Net reporter. 



The EBRD does not expect surge of inflation  in Armenia this year.



According to Mr. Razlog, the rate of inflation in 2010 will be within the limits set by the Central Bank of Armenia. 



The European Bank for Reconstruction and Development (EBRD) is an international financial institution that supports projects in 29 countries from central Europe to central Asia. Investing primarily in private sector clients whose needs cannot be fully met by the market, the Bank promotes entrepreneurship and fosters transition towards open and democratic market economies.



The EBRD is the major investor in Armenia. Its 2009, investments totaled USD 150 million against of the USD 75 million in 2008. So far, EBRD has invested over 335 million euro in the country's economy for implementation of over 70 projects.