YEREVAN. - I can’t say anything regarding the new Armenian government and the premier, since we only know their names and surnames.

Head of the European Bank for Reconstruction and Development (EBRD) Resident Office in Armenia, Mark Davis, told the aforementioned to Armenian News – NEWS.am and Tert.am on Thursday on the sidelines of the discussion entitled “Economic issues in Armenia, third generation reforms, investment climate and development preconditions.”

Referring to the condition of the investment market in Armenia, he noted that the global crisis and the drop in the oil prices have certainly influenced the investments in Armenia. Besides, Armenia has relatively successfully resisted these impacts, recording growth last year. However, according to Mr Davis, the growth will be slower this year, since the financial sector provides fewer loans.

At the same time, the reduction of the refinancing rate is the positive side of the question. This will contribute to the possible increase of loans in the economy, which means that the government understands the significance of increasing the compatibility, as well as the need for eliminating monopolies, which are linked with the employees of state institutions, he noted.

In Davis’ words, they also realize that those issues are very difficult to solve, but there are also issues which can be solved more easily, for instance Armenia is successful in creating business climate, in terms of correct administrative decisions.

Asked whether the Government wishes to solve those issues, Mark Davis noted that they say they do wish, but the elections are already close. Nevertheless, he expressed hope that the Government will do what it has to do.

According to the head of the EBRD Armenian Resident Office, the most serious issue in the country is corruption. It’s not correct to mention only one issue when the country has a complex of issues, which results in this situation, he said.