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Imf Forecasts More Than 10% Growth Of Economy In Armenia In 2006-2007


Lev7

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More than 10% growth of economy will be observed in Armenia in

2006-2007, Rodrigo de Rato, IMF Director-Manager told a press

conference in Yerevan.

 

In his words, IMF underestimated the pace of economic development in

Armenia while forecasting GDP growth of 6-8%. Being without natural

resources, Armenia reached high economic indicators which testifies

about the effectiveness of its economy. "Compared to other regional

countries Armenia is developing much faster," he stressed.

 

In the opinion of IMF Director-Manager, growth of more than 10% and

low level of inflation are indicators which can serve as basis for

further stable growth of the Armenian economy.

 

Rodrigo de Rato also noted that the reforms implemented in the country

are directed to bringing the legislation of Armenia in compliance

with EU standards which makes it possible for the country to compete

in the world.

 

GDP growth of 13.9% was reported in Armenia in 2005 against 10.1%

in 2004.

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Hopefully this rate of economic growth will filter to the rural areas where the people are truly suffering.

 

It is noteworthy that this growth is occuring despite Azeri and Turkish efforts to destroy the Armenian economy.

 

 

More than 10% growth of economy will be observed in Armenia in

2006-2007, Rodrigo de Rato, IMF Director-Manager told a press

conference in Yerevan.

 

In his words, IMF underestimated the pace of economic development in

Armenia while forecasting GDP growth of 6-8%. Being without natural

resources, Armenia reached high economic indicators which testifies

about the effectiveness of its economy. "Compared to other regional

countries Armenia is developing much faster," he stressed.

 

In the opinion of IMF Director-Manager, growth of more than 10% and

low level of inflation are indicators which can serve as basis for

further stable growth of the Armenian economy.

 

Rodrigo de Rato also noted that the reforms implemented in the country

are directed to bringing the legislation of Armenia in compliance

with EU standards which makes it possible for the country to compete

in the world.

 

GDP growth of 13.9% was reported in Armenia in 2005 against 10.1%

in 2004.

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