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Monday, August 21, 2017

Armenian prime minister leads discussion on economic development

Armenian Prime Minister Hovik Abrahamyan oversaw discussions Tuesday on economic development with government heads and leaders of the country's financial agencies.

In the meeting, officials discussed measures including the promotion of exports, the collaboration between the agencies and the government, and ways to attract investment into the country. They also discussed economic challenges that Armenia will likely face.

In January, the International Monetary Fund (IMF) conducted an initial review of the country's economic climate that resulted in the fund disbursing $17 million in aid. The IMF report found that Armenia's economic growth slowed between 2013 and 2014 after showing steady increases from 2010 to 2012. The report also projected only gradual growth unless the government took decisive action to encourage investment and provide opportunity for social spending. 

Armenian officials said they were open to pursuing these options.

Organizations in this story

Government of Armenia Republic Square, Government House 1, 0010 Yerevan, Republic of Armenia

International Monetary Fund 700 19th Street, N.W., Washington, D.C. - 20431

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