Jean-Michel Happi: Armenia to register 4-5% GDP growth in 2011January 12, 2011 - 13:49 AMT 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 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 | Turkey extends military presence in Azerbaijan The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops. Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skills Armenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi Arabia Pashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |