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VENEZUELAN EX-MINISTER OF FINANCE ADVISES ARMENIA TO FOCUS ON EXPORT
PanARMENIAN.Net
September 10, 2010 - 18:50 AMT 13:50 GMT
Venezuelan ex-minister of finance, current Director of Harvard's
Center for International Development Ricardo Hausmann said that high
rates of GDP growth in Armenia in 2004-2008 could not be preserved
at the same level, as it was an unstable growth.
According to him, formation of a more active and diversified economy
can secure the country's development in the post-crisis period. "The
key to Armenia's success will be an export-oriented economy. It will
be possible to export agricultural products, information technologies
and tourism," Hausmann told journalists in Yerevan.
During a lecture for Armenian students and lecturers, the professor
presented his researches, comparing them with Adam Smith's studies.
"In his researches, Smith revealed that poor countries are 4 times
poorer than rich ones. According to 2009 indexes, Congo is the poorest
country in the world, where GDP/capita totaled $100, while the U.S. is
387 times richer than Congo, what means that this index has increased
by 100 times," Hausmann said.
For his part, Armenian Minister of Economy Nerses Yeritsyan said that
the famous professor's basic message is that development of a country
is based on "courageous steps and various ideas and not in dependence
on one idea."
"Currently we can secure prosperous future for us and make our country
more competitive through our knowledge and our decisiveness. The
existence of healthy competition and favorable economic environment,
development of innovation infrastructures, assistance to medium and
small businesses, focus on export, etc are of keen importance in
such a small country like Armenia," the Minister said, adding that
the crisis has revealed many shortages of Armenia's economy, which
need to be eliminated.
From: A. Papazian
PanARMENIAN.Net
September 10, 2010 - 18:50 AMT 13:50 GMT
Venezuelan ex-minister of finance, current Director of Harvard's
Center for International Development Ricardo Hausmann said that high
rates of GDP growth in Armenia in 2004-2008 could not be preserved
at the same level, as it was an unstable growth.
According to him, formation of a more active and diversified economy
can secure the country's development in the post-crisis period. "The
key to Armenia's success will be an export-oriented economy. It will
be possible to export agricultural products, information technologies
and tourism," Hausmann told journalists in Yerevan.
During a lecture for Armenian students and lecturers, the professor
presented his researches, comparing them with Adam Smith's studies.
"In his researches, Smith revealed that poor countries are 4 times
poorer than rich ones. According to 2009 indexes, Congo is the poorest
country in the world, where GDP/capita totaled $100, while the U.S. is
387 times richer than Congo, what means that this index has increased
by 100 times," Hausmann said.
For his part, Armenian Minister of Economy Nerses Yeritsyan said that
the famous professor's basic message is that development of a country
is based on "courageous steps and various ideas and not in dependence
on one idea."
"Currently we can secure prosperous future for us and make our country
more competitive through our knowledge and our decisiveness. The
existence of healthy competition and favorable economic environment,
development of innovation infrastructures, assistance to medium and
small businesses, focus on export, etc are of keen importance in
such a small country like Armenia," the Minister said, adding that
the crisis has revealed many shortages of Armenia's economy, which
need to be eliminated.
From: A. Papazian