Armenia has to invest more in education to increase its
competitiveness: WB recommends
2007-12-14 13:36:00
ArmInfo. Armenia has to invest more in education to increase its
competitiveness, regional vice President of the World Bank for the
countries of Europe and Central Asia Shigeo Katsu told journalists
today in Yerevan.
He said that lately, the republic keeps on assuring a two-digit growth
of economy and attract great investments. Unfortunately, these
investments were attracted only to several branches and they did not
reflect on the population welfare growth. Armenia should diversify the
investments and invest more in education for further economy growth, he
said. The WB’s representative warned about the available challenges to
the republic’s economy, in particular, growth of the world prices for
energy carriers and foodstuffs. "Armenia’s economy is small and free,
therefore, it is subject to the external inflation pressures. The
financial market of Armenia is under formation and many tools for its
regulation should be implemented", he said. S. Katsu added that the
dram consolidation, that is inevitable for a country with a
fast-growing economy and a country, which receives great financial
flows from abroad, puts a definite pressure on the republic’s economy.
S. Katsu said that he connects Armenia’s competitiveness increase with
unblocking of roads (Railway blockade by Turkey is meant).