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 | Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. |