WB ready to  keep cooperation  with Armenia

ArmInfo. WB will do its best to support Armenia in implementation of reforms, the World Bank 's  Europe and Central Asia Vice  President Syril Muller said during his meeting with Armenian President Serzh Sargsyan. That was shared to ArmInfo at the press office of the Presidential Staff.

 "We are going to celebrate the 25-th anniversary of our cooperation. In those sectors, where WB could successfully implement own projects, we do carry on diagnostic programs and evaluations. ," Muller stated.  In his turn, Serzh Sargsyan highly appreciated the WB role in the process of social economic development of Armenia, accentuating that " Initially the bank had been viewed not only as an investor, but also a a reliable partner for Armenia in implementation of economic reforms and development of human resources". At the same time Armenian President expressed a hope, that within the frameworks of cooperation between Armenia and World Bank positive habits and experience will be kept, and the projects will get new dimensions.

According to the source,  the importance pf reform implementation duration was accentuated by both sides, particularly  in respect to stimulation of the export, securing stabile economic growth through the improvement of compettion.

As Armifo was informed at the press office of the Government, on the same day  Syril Muller met Karen Karapetyan, the Armenian Prime Minister, during which Karapetyan offered to review the opportunity of involving the WB in the process of reforms regarding the administration system. In his turn, Syril Muller stated the readiness for close cooperation.

To note, the World Bank  in its November report has upgraded its forecast of  Armenia's economic growth to 3.1% (vs previous 1.9%),he state budget of Armenia fixed 2.2% GDP growth in 2016, deflator  index - 4%, 12- month inflation - 4% (+1.5%). According to the  National Statistical Service of Armenia in Jan-Oct 2016, the economic  activity growth in Armenia slackened to 0.4% from 3.5% in Jan-Oct  2015. Services and industry remained the driving force of economic  activity:  services grew by 7.7%, and industry - by 6.5% versus  Jan-Oct 2015. Export in Jan-Oct 2016 grew by 19.8% y-o-y, while  import dropped by 0.3% versus 2.2% and 26.6% decline respectively in  previous year.