THE ECONOMY IS IN DANGER

Lragir.am
17/12/09

The chair of the WB Yerevan office Aristomane Varudakis dwelt on the
fact that the resistibility of the Armenian economy is to be enhanced
because since it is not diversified, it is in danger.

In particular, Varudakis noted that "in practice, it is impossible
to diversify the economy if the level of corruption in the tax and
customs spheres is not equal to zero and the role of oligopolies is
not decreased in the market and in the economy". Varudakis noted that
necessary political will is needed to struggle against oligopolies
in order to reveal the connection of some officials and oligopolies.

WB Yerevan office head noted that there are three preconditions for
the enhancement of Armenian economy’s resistibility: the first is
that big possibilities are to be provided for the major investors,
and the second is that a more favorable investment sphere is to
be created for which Varudakis considers important the decrease of
corruption level within structures collecting income. And the third
is that Armenia has to make investments in the spheres of technology,
infrastructures, informational technologies for the Armenian economy
to become competitive.