EBRD finds double-dip crisis in Armenia unlikely

17.02.2010 19:17
EBRD finds double-dip crisis in Armenia unlikely

YEREVAN, February 17. /ARKA/. Helena Schweiger, the chief economist at European Bank for Reconstruction and Development, answering the question ARKA News Agency put up to her, said she found double-dip recession unlikely in Armenia.

However, she said, growth is thought to be slow – some 2% in 2010.

On Tuesday, presenting the EBRD Transition Report in Yerevan, Schweiger said that the steps to be taken by Armenian government to ensure this growth should be connected with improvement of business environment.

She thinks competitive environment and tax administration should be improved.

The EBRD expert said these measures have already been discussed.

She expressed hope that progress would be seen in these areas.
According to National Statistical Service of Armenia, the country’s GDP reduced 14.4% in 2009, compared with the same period a year earlier, to AMD 3165.5 billion.

The government has planned 1.2% economic growth in the 2010 state budget. ($1=AMD 381.33).--0--

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