WORLD BANK SURPRISED AT ECONOMIC INDICATORS OF ARMENIA

Panorama.am
17:54 06/09/06

The economic growth of Armenia continues to surprise the World Bank
(WB), Roger Robinson, the head of WB Yerevan office, said during a
presentation organized by AEPLAC experts. In his words, no one would
believe five years ago that Armenia will have two-digit growth of
GDP, increasing public incomes by two and considerably diminishing
the level of poverty. "In the beginning of this year, no one could
suppose that Armenia would have 11.7% of GDP growth," Robinson said.

Armenia overpasses all countries of the world, with the exception
to Turkmenia and Azerbaijan, in growth indicators. "However, we may
not count these countries because their growth is connected with
known factors.

If these factors are eliminated, Armenia will take the lead,"
Robinson says.

Robinson indicated that Armenia needs to implement institutional
reforms to keep to the same indicators, particularly in tax and
customs services.