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EBRD REPORTS ON S. CAUCASUS ECONOMY
The Messenger
May 23 2012
Georgia
According to an EBRD report on the South Caucasus countries, Armenia
is very slowly recovering from the economic crisis, placing more
of an emphasis on the mining industry. The research highlights that
the Armenian government is trying to improve tax administration and
carry out structural reforms. This move is supported by the IMF. The
development of the Armenian economy depends on state financing,
as well as many transfers from abroad. The Armenian Diaspora around
the world intensively supports the country, sending money to their
relatives inside the state. However, this carries certain risks as
well. Concerning Georgia's achievements, the report highlighted
the country's moves with regards to decreasing inflation. As for
Azerbaijan, its economic success is mainly based on the export of its
energy resources. However, experts have expressed their concern and
suggest that the country should diversify its dependence on energy
resources.
The Messenger
May 23 2012
Georgia
According to an EBRD report on the South Caucasus countries, Armenia
is very slowly recovering from the economic crisis, placing more
of an emphasis on the mining industry. The research highlights that
the Armenian government is trying to improve tax administration and
carry out structural reforms. This move is supported by the IMF. The
development of the Armenian economy depends on state financing,
as well as many transfers from abroad. The Armenian Diaspora around
the world intensively supports the country, sending money to their
relatives inside the state. However, this carries certain risks as
well. Concerning Georgia's achievements, the report highlighted
the country's moves with regards to decreasing inflation. As for
Azerbaijan, its economic success is mainly based on the export of its
energy resources. However, experts have expressed their concern and
suggest that the country should diversify its dependence on energy
resources.