WB vice-president: Armenia’s economy continues serious growth
14.12.2007,
21:01
In 2007 Armenia’s economy continues serious growth, said World Bank Vice President for Europe and Central Asia Shigeo Katsu.
YEREVAN, December 14. /ARKA/. In 2007 Armenia’s economy continues serious growth, said World Bank Vice President for Europe and Central Asia Shigeo Katsu.
He said that Armenia’s economy develops very well. “The prospects of development of Armenia’s economy are quite positive, but it does not mean that we should be satisfied. There are various challenges that should be overcome by tense work,” Katsu said.
He pointed out that “the growth of economy is accompanies by definite pressures.”
“In recent years Armenia has managed to attract supplementary means for the economy, which led to definite pressures in revaluation of dram and rise in prices for some products,” he said.
In this connection he pointed out that the world trends of rise in prices for oil product and foodstuff certainly influenced Armenia.
According to the Armenian National Statistical Service, the economic growth in Armenia in January-October totaled 13.3% as compared to the same period last year.
5.1% inflation is recorded in Armenia in November 2007 as related to December 2006. Only in November the prices of the consumer market rose by 2.1%, which was accounted for by seasonal changes in prices for provisions. In November prices for foodstuff (including alcoholic beverages and tobacco goods) rose by 3%, for non-food – 1.2%, and tariffs for services – 0.9%. –0--
He said that Armenia’s economy develops very well. “The prospects of development of Armenia’s economy are quite positive, but it does not mean that we should be satisfied. There are various challenges that should be overcome by tense work,” Katsu said.
He pointed out that “the growth of economy is accompanies by definite pressures.”
“In recent years Armenia has managed to attract supplementary means for the economy, which led to definite pressures in revaluation of dram and rise in prices for some products,” he said.
In this connection he pointed out that the world trends of rise in prices for oil product and foodstuff certainly influenced Armenia.
According to the Armenian National Statistical Service, the economic growth in Armenia in January-October totaled 13.3% as compared to the same period last year.
5.1% inflation is recorded in Armenia in November 2007 as related to December 2006. Only in November the prices of the consumer market rose by 2.1%, which was accounted for by seasonal changes in prices for provisions. In November prices for foodstuff (including alcoholic beverages and tobacco goods) rose by 3%, for non-food – 1.2%, and tariffs for services – 0.9%. –0--
