Armenian president upbeat about economic prosperity in 2005

Armenian president upbeat about economic prosperity in 2005

27 Dec 04


The year 2005 may be critical for Armenia, Armenian President Robert
Kocharyan said at a meeting with the country’s business circles today.

Kocharyan said that many projects launched in 2004 will make the year
critical. He said that serious progress is expected in the energy
sphere, particularly in the construction of small hydroelectric power

The construction of a second high voltage Iran-Armenia electricity
line will help ensure greater energy security and stability in the
country, he said. The construction of a second Megri – Kapan highway
may boost trade between the countries Iran and Armenia , Kocharyan

Kocharyan also said that the government is seriously committed to
increasing budget revenue by 53bn drams 109.5m dollars next year. This
will mean stepping up the fight against the shadow economy, he said.

The increase of 28bn drams in capital expenditure to a total of 89bn
drams 183.8m dollars in 2005 will also have a positive effect on
economic development, he said.

“As a whole, the year will be stable and productive,” Kocharyan said.

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