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It's Hard To Know How Much Money Government Officials Will Request

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  • It's Hard To Know How Much Money Government Officials Will Request

    IT'S HARD TO KNOW HOW MUCH MONEY GOVERNMENT OFFICIALS WILL REQUEST

    Story from Lragir.am News:
    http://www.lragir.am/index.php/eng/0/society/view/28379
    15:21 11/12/2012

    The first reason why foreign investments in Armenia declined is that
    the sources of investments have curtailed their investment programs,
    said Guillermo Tolosa, the IMF Resident Representative to Armenia,
    commenting on the 35% decline in foreign investments in Armenia.

    He said decline in Armenia was deeper because doing business in
    Armenia is tougher than in the countries of the region. The situation
    is improving but it is still difficult to do business and attract
    investments to Armenia.

    According to him, there are a number of problems which hinder
    businesses in Armenia. There are difficulties in dealing with
    public administration bodies, it is hard to know in advance how much
    money the members of government and officials will request from a
    businessman. Guillermo Tolosa said he means corruption risks.

    As to statements by the authorities on effective fight against
    corruption, he noted that Armenia will report considerable progress if
    activities that are crucial to fighting this phenomenon are brought
    into being. We notice that the authorities are more and more aware
    that it will be brought into being. He noted that the authorities
    are increasingly aware of the importance of their implementation.

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