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Armenian president upbeat about economic prosperity in 2005

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  • Armenian president upbeat about economic prosperity in 2005

    Armenian president upbeat about economic prosperity in 2005

    Arminfo
    27 Dec 04

    YEREVAN

    The year 2005 may be critical for Armenia, Armenian President Robert
    Kocharyan said at a meeting with the country's business circles today.

    Kocharyan said that many projects launched in 2004 will make the year
    critical. He said that serious progress is expected in the energy
    sphere, particularly in the construction of small hydroelectric power
    plants.

    The construction of a second high voltage Iran-Armenia electricity
    line will help ensure greater energy security and stability in the
    country, he said. The construction of a second Megri - Kapan highway
    may boost trade between the countries Iran and Armenia , Kocharyan
    said.

    Kocharyan also said that the government is seriously committed to
    increasing budget revenue by 53bn drams 109.5m dollars next year. This
    will mean stepping up the fight against the shadow economy, he said.

    The increase of 28bn drams in capital expenditure to a total of 89bn
    drams 183.8m dollars in 2005 will also have a positive effect on
    economic development, he said.

    "As a whole, the year will be stable and productive," Kocharyan said.
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