Tendencies for posting 7% economic growth in Armenia are positive- IFC

26.07.2012 18:19
Tendencies for posting 7% economic growth in Armenia are positive- IFC

YEREVAN, July 26. /ARKA/. The tendencies for fetching up 7% economic growth in Armenia this year are quite positive, Thomas Lubeck, IFC Regional Manager, South Caucasus, said in an exclusive interview with ARKA agency.

According to him, economic growth in Armenia is still measured through definitive figures, however the tendencies are positive.
At an extraordinary meeting of the Cabinet on June 18, Armenia’s President Serzh Sargsyan declared the government should secure 7% economic growth instead of the projected 4.2%. In 2011 Armenian economy reported 4.6% growth.

IFC Regional director also noted it is always important to have some challenges, either it is an economic growth,  poverty elimination or something else. Highlighting the benefits the country gets  from the competitive banking system, Lubeck clarified that today Armenia has great chances to enter the European agricultural market.

Armenian government, he said, makes all the necessary efforts to recover from the effects of the financial-economic crisis and the time will show how well it succeeded.
According to the National Statistical Service of Armenia, economic activity jumped by 7.8% in the first half of this year from the same period a year earlier.

Armenia joined IFC, a part of the World Bank Group, in 1995. Over 17 years IFC injected $238 million into Armenian economy implementing 37 programs. —0--

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