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The European Bank for Reconstruction and Development presented on February 16 in Yerevan its “Report on transitive period” which contains the question whether Armenia is suffering a crisis in this period.
According to the Chief Economist of the Bank Helena Schveiger the expected reforms in the business sphere are to be carried out now in order to enhance competitiveness, to involve local and foreign investments to pave the way for restoration of the economy.
The European Bank carried out a survey within the Armenian business sphere and found out that the main obstacle for the business development is the absence of competition.
According to the Bank, in 2010, Armenia is to pass to the promotion of growth. The Bank predicts a growth of 2 percent for Armenia in 2010, stressing that it may be a little more or less depending on the projects of the government.
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