Economist: knowledge-based economy can propel Armenia’s development

Economist: knowledge-based economy can propel Armenia’s development

YEREVAN, January 17. /ARKA/. Knowledge-based economy can propel Armenia’s development, Vardan Bostanjyan, an economist and a former member of parliament, told ARKA News Agency on Friday.  

“Our room for development is not small, and I think it is necessary to move toward knowledge-based economy, which needs a right policy for proper development,” he said. 

In his opinion, effective usage of intellectual resources will put things in the country right by enhancing enterprises’ profitability and creating new jobs.   

The expert pointed out development of the light industry and small and mid-scale businesses as other ways to spur economic growth in the country. 

According to National Statistical Service of Armenia, the country’s GDP grew 1.4% in the third quarter 2013, compared with the same period of 2012, to AMD 1283.5 billion. 

In the 2013 government budget, GDP growth was projected at 6.2% and in the 2014 budget at 5.2%. -0---

18:08 17.01.2014

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