ARMENIA TO HAVE EU DEVELOPMENT LEVEL IN 17 YEARS, AEPLAC EXPERT SAYS

Panorama.am
17:03 06/09/06

"If we suppose that the averaged indicator of GDP growth in Armenia
makes up 12.2%, we can conclude that the country may reach the level
of development observed in European Union countries in 17 years,"
Artashes Shaboyan, expert of AEPLAC, said during a presentation on
"Economic development of Armenia – 2005."

In his words, real GDP in 2005 is higher by 1.8 times than the same
indicator in the year 2000. In absolute terms, it makes up 2.2 billion
Armenian drams. The expert forecasts further growth in GDP in the
coming years, too.

Shaboyan indicated that the construction ratio makes up 21.7% whereas
in 2001 this indicator was only 9.7%.

The AEPLAC expert says GDP mostly will account on construction and
agriculture in future.