By Eva Sahakyan

Armenian Prime Minister Tigran Sarkisian

YEREVAN, September 2 — During the meeting between the MFA of the Republic of Armenia and the heads of diplomatic representative bodies of Armenia, held on August 30-31, the Armenian Prime Minister Tigran Sarkisian presented the current situation of Armenian economy.

Speaking about economic indicators, the Prime Minister mentioned that 4.6 percent GDP growth is expected in 2011. He added that Armenia has already stepped into five percent inflation rate phase, which will create more favorable conditions for controlling inflation in 2012.

Sarkisian talked also about government programs, which cover the process of improving the Armenian business environment. He mentioned that this year important changes have been made in this sphere, mainly administrative improvements in the tax and customs system. Electronic reporting systems were introduced, due to which contact between tax officers and business owners is reduced. “Today enterprises can be registered in 15 minutes in Armenia,” Sarkisian said.

The Prime Minister mentioned that the concept of industrial policy is for the first time being developed in Armenia. It will include the economic structure of the Republic of Armenia for the nearest ten years, will reveal its existing potential, comparative advantages and restrictive factors.

Yerevan Report