PRESS RELEASE April 10, 2006
Embassy of the Republic of Armenia
2225 R Street, NW, Washington, DC, 20008
Tel: 202-319-1976, x. 348; Fax: 202-319-2982
Email: armecon@speakeasy.net ;Web:

Vahram Nercissiantz Addresses Carnegie Endowment on Armenian Economy

On April 6, 2006, Mr. Vahram Nercissiantz, Chief Economic Adviser to the
President of Armenia, presented the current state and future prospects of
the Armenian economy at the Carnegie Endowment in Washington, D.C. In his
address, entitled `Armenian Economic Reforms: Results and Challenges,’ Mr.
Nercissiantz explained the nature of economic reforms implemented in Armenia
since independence and presented its main achievements, such as economic
growth and liberalization. He noted that Armenia was ahead of neighboring
Georgia and Azerbaijan in terms of economic indicators even though Armenia’s
economic growth occurred without the benefit of oil resources or transit
opportunities, and in the presence of economic blockade.

Mr. Nercissiantz also noted that Armenia’s economic progress is acknowledged
by the international financial institutions, as well as in the annual Index
of Economic Freedom by the Heritage Foundation and the Wall Street Journal.
The latter ranked Armenia considerably higher than that of any CIS country
or any of its neighbors. In the Q&A following his remarks, Mr. Nercissiantz
also addressed issues of energy security, foreign trade, and cooperation
with the Millennium Challenge Corporation.

The presentation was attended by economic experts from Washington-based
think tanks, representatives from the World Bank, IMF, State Department,
Department of Commerce, MCC, as well as the diplomatic corps.