A Forex Club analyst predicted 3.7% GDP growth in Armenia by the end of 2010, the figure to be secured by 11% industrial boost as well as 18,7% and 8,6% growth in transport and trade respectively.

“The main obstacles will be high inflation rate and huge state debt,” Mikael Verdyan told journalists on November 1.

For his part, head of the analytical department at Forex Club, Andrey Dirgin, noted that Armenia’s human development index is the highest in the Transcaucasia, the main reason for it being availability of medical and educational services.

“However, Georgia economy is now rapidly developing thanks to direct foreign investments and transit payments,” Dirgin said, adding that opening of the border with Turkey may help improve the economic situation in Armenia.