09/03/2011 16:48
EBRD: Economy keeps rehabilitating in Armenia
Armenia’s economy keeps rehabilitating after the heavy blow in 2009 when the amount of production decreased by 14.2%. According to the report of the European Bank for Reconstruction and Development (EBRD), 4.5% economic growth is expected in Armenia in 2011 against former 2.6%.
“Economic rehabilitation process is slow in Armenia compared with the region,” Erik Berglöf, Chief Economist and Special Adviser to the President at EBRD, told reporters.
“We are also concerned over the process of reforms,” he said.
E. Berglöf considers that Armenia needs tax and customs reforms to improve the business climate and to secure supremacy of the law.