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FOUR PERCENT GDP GROWTH UNLIKELY TO RESULT IN SPECIAL ECONOMIC ACTIVITY; FORMER CENTRAL BANK GOVERNOR
/ ARKA /
July 14, 2011
YEREVAN
YEREVAN, July 14. / ARKA /. Armenian economy will expand this year by
4 percent, but that growth is unlikely to result in special economic
activity, former chairman of the Central Bank of Armenia, Bagrat
Asatryan, told a news conference today.
"This is because the business environment in Armenia is in poor
condition and can not contribute to economic progress", he said.
According to him, with this pace of economic growth it will take at
least two years for the economy to reach the pre-crisis level.
Asatryan believes that the solution of socio-economic problems will
contribute to the implementation of comprehensive reforms especially
in the tax system that needs an overhaul.
"However, the reform program of the government has not yet been
approved," he said.
According to 2011 budget projection, the GDP will grow 4.6%.
/ ARKA /
July 14, 2011
YEREVAN
YEREVAN, July 14. / ARKA /. Armenian economy will expand this year by
4 percent, but that growth is unlikely to result in special economic
activity, former chairman of the Central Bank of Armenia, Bagrat
Asatryan, told a news conference today.
"This is because the business environment in Armenia is in poor
condition and can not contribute to economic progress", he said.
According to him, with this pace of economic growth it will take at
least two years for the economy to reach the pre-crisis level.
Asatryan believes that the solution of socio-economic problems will
contribute to the implementation of comprehensive reforms especially
in the tax system that needs an overhaul.
"However, the reform program of the government has not yet been
approved," he said.
According to 2011 budget projection, the GDP will grow 4.6%.