Armenian leader hails economic reforms

Armenian leader hails economic reforms

Arminfo
22 Nov 04

Yerevan, 22 November: Armenia has finished structural reforms,
Armenian President Robert Kocharyan said at the Berlin Economic Forum
on 19 November.

In his speech, Robert Kocharyan said that for the time being Armenia’s
aim was to move towards the European Union standards, the presidential
press service has told Arminfo news agency.

The number and scale of reforms, which involve large-scale
privatization, trade liberalization and the streamlining of the
functions of the state apparatus, currently ensure a steady economic
growth in the country, the Armenian president said. He recalled that
in the last four years, this growth amounted to a double-digit figure.

“The share of the private sector in GDP has exceeded 80 per
cent. Moreover, 38 per cent of them are small and medium-sized
businesses,” Robert Kocharyan said. Armenia is cooperating fruitfully
with the World Bank, the International Monetary Fund and the European
Commission in the economic sphere, he added.