ARMENIA’S GDP GREW 13.7 PERCENT IN 2007
By M. Alkhazashvili
The Messenger
May 15 2008
Georgia
Last year Armenia’s GDP grew by 13.7 percent, mainly due to the
construction and service sectors, according to the news agency Regnum.
The 2008 CIA World Factbook says that both economic reform and improved
ties with Turkey and Azerbaijan are required for Armenia to improve
economic competitiveness.
"Armenia will need to pursue additional economic reforms in order
to improve its economic competitiveness and to build on recent
improvements in [eliminating] poverty and unemployment, especially
given its economic isolation from two of its nearest neighbors,
Turkey and Azerbaijan," the CIA report says.
Armenia has no trade or diplomatic ties with two of its neighbors,
Turkey and Azerbaijan, and has consequently been excluded from
regional project such as the Baku-Tbilisi-Ceyhan oil pipeline and
the Baku-Tbilisi-Kars railway.