EBRD: ECONOMIC GROWTH IN ARMENIA WILL COMPRISE 2% IN 2010

PanARMENIAN.Net
04.03.2010 14:33 GMT+04:00

/PanARMENIAN.Net/ European Bank of Reconstruction and Development
forecasted 2% economic growth in Armenia.

"Two weeks ago we announced that GDP volume in Armenia will comprise 2%
in 2010," head of EBRD Yerevan, Valeriu Razlog told a news conference
in Yerevan.

"Still, making forecasts on macroeconomic index would be a brave step
under the circumstances," he added.

1,2% economic growth and 4±1,5% inflation are stipulated in Armenia’s
budget for 2010.

European Bank of Reconstruction and Development EBRD is an
international financial institution that supports projects in 29
countries from central Europe to central Asia. Investing primarily in
private sector clients whose needs cannot be fully met by the market,
the Bank promotes entrepreneurship and fosters transition towards
open and democratic market economies.

The EBRD is the largest single investor in the region and also
mobilises significant foreign direct investment into its countries of
operations. The Bank invests mainly in private enterprises, usually
together with commercial partners. It provides project financing
for the financial sector and the real economy, both new ventures and
investments in existing companies. It also works with publicly-owned
companies to support privatisation, restructuring of state-owned
firms and improvement of municipal services.

Owned by 61 countries and two intergovernmental institutions, the EBRD
maintains a close political dialogue with governments, authorities
and representatives of civil society to promote its goals.