IMF FORECASTS MORE THAN 10% GROWTH OF ECONOMY IN ARMENIA IN 2006-2007
Panorama.am
14:38 19/06/06
More than 10% growth of economy will be observed in Armenia in
2006-2007, Rodrigo de Rato, IMF Director-Manager told a press
conference in Yerevan.
In his words, IMF underestimated the pace of economic development in
Armenia while forecasting GDP growth of 6-8%. Being without natural
resources, Armenia reached high economic indicators which testifies
about the effectiveness of its economy. "Compared to other regional
countries Armenia is developing much faster," he stressed.
In the opinion of IMF Director-Manager, growth of more than 10% and
low level of inflation are indicators which can serve as basis for
further stable growth of the Armenian economy.
Rodrigo de Rato also noted that the reforms implemented in the country
are directed to bringing the legislation of Armenia in compliance
with EU standards which makes it possible for the country to compete
in the world.
GDP growth of 13.9% was reported in Armenia in 2005 against 10.1%
in 2004.