Thursday, February 10 2011 19:38

Expert has moderate expectations for economic growth in Armenia


ArmInfo. In 2011 the Armenian economy will develop inertly, CEO of Armenbrok Investment Company Aram Kayfajyan said in an interview to ArmInfo.

He has moderate expectations for economic growth in Armenia.

"There are no prerequsities for mid-term (3-5-year) economic improvement," Kayfajyan said.

He believes that substantial macro-economic growth will be possible only in case of tough, quick and well-thought-out liberalization, deregulation, anti-corruption and anti-bureaucracy reforms and fair competition on all commodity and service markets.

According to Transparency International's Global Corruption Barometer survey, the most corrupt sector in Armenia is education. Corruption Perceptions Index in this field is 4.2 out of 5 points, in judiciary and police it is 4.1 points, among government officials and MPs - 3.8, in the army and among political parties - 3.6, in business - 3.2, in mass media - 2.9, among NGOs - 2.7, among religious organizations - 2.2. The survey was held in 86 countries.
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