EBRD: economic growth in Armenia will comprise 2% in 2010

PanARMENIAN.Net - European Bank of Reconstruction and Development forecasted 2% economic growth in Armenia.

“Two weeks ago we announced that GDP volume in Armenia will comprise 2% in 2010,” head of EBRD Yerevan, Valeriu Razlog told a news conference in Yerevan.

“Still, making forecasts on macroeconomic index would be a brave step under the circumstances,” he added.

1,2% economic growth and 4±1,5% inflation are stipulated in Armenia’s budget for 2010.

European Bank of 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 largest single investor in the region and also mobilises significant foreign direct investment into its countries of operations. The Bank invests mainly in private enterprises, usually together with commercial partners. It provides project financing for the financial sector and the real economy, both new ventures and investments in existing companies. It also works with publicly-owned companies to support privatisation, restructuring of state-owned firms and improvement of municipal services.

Owned by 61 countries and two intergovernmental institutions, the EBRD maintains a close political dialogue with governments, authorities and representatives of civil society to promote its goals.