Armenia’s Economic Development Program Discussed

YEREVAN (Noyan Tapan)–The medium-term program of Armenia’s economic development for 2000-2003 is currently under discussion with World Bank experts who are on a visit to Armenia. The program provides for a macroeconomic policy aimed at economic development–Advisor to Minister of Economy Andranik Tevanian told Noyan Tapan.

Investment increase–export encouragement and reduction of unemployment will be guaranteed–and inflation will remain at the projected low level. Tevanian pointed out that until recently economic reforms have been of macroeconomic character; now they will be microeconomic. The privatization process will be slowed down–the privatization of individual enterprises will be preceded by the assessment of business and recovery programs developed for them. An efficient mechanism of protecting property right will be developed. Presenting the structure of the Ministry of Economy–Tevanian pointed out that the functions performed by the Ministry of Economy and the Ministry of Industry and Trade should be distinguished.

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