Venezuelan ex-minister of finance advises Armenia to focus on exportSeptember 10, 2010 - 18:50 AMT PanARMENIAN.Net - Venezuelan ex-minister of finance, current Director of Harvard’s Center for International Development Ricardo Hausmann said that high rates of GDP growth in Armenia in 2004-2008 could not be preserved at the same level, as it was an unstable growth. According to him, formation of a more active and diversified economy can secure the country’s development in the post-crisis period. “The key to Armenia’s success will be an export-oriented economy. It will be possible to export agricultural products, information technologies and tourism,” Hausmann told journalists in Yerevan. During a lecture for Armenian students and lecturers, the professor presented his researches, comparing them with Adam Smith’s studies. “In his researches, Smith revealed that poor countries are 4 times poorer than rich ones. According to 2009 indexes, Congo is the poorest country in the world, where GDP/capita totaled $100, while the U.S. is 387 times richer than Congo, what means that this index has increased by 100 times,” Hausmann said. For his part, Armenian Minister of Economy Nerses Yeritsyan said that the famous professor’s basic message is that development of a country is based on “courageous steps and various ideas and not in dependence on one idea.” “Currently we can secure prosperous future for us and make our country more competitive through our knowledge and our decisiveness. The existence of healthy competition and favorable economic environment, development of innovation infrastructures, assistance to medium and small businesses, focus on export, etc are of keen importance in such a small country like Armenia,” the Minister said, adding that the crisis has revealed many shortages of Armenia’s economy, which need to be eliminated. 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 | Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. Pashinyan: Armenia’s desired goal is “on the horizon” Prime Minister Nikol Pashinyan has said that Armenia is moving forward “without interruption”. Opposition leader, supporters spend night at Sardarapat memorial Police made nearly 300 arrests the day before as Galstanyan and his supporters continued to demonstrate in Yerevan. |