The European Bank for Reconstruction and Development forecasts a 5% economic growth in Armenia this year. This is what Head of the European Bank for Reconstruction and Development in Armenia Dimitri Gvindadze told reporters during a concluding press conference today.

According to him, the Bank forecasts a 5% economic growth based on the assessment of the country’s economy as of November 2019. Gvindadze went on to explain that the EBRD reviews the forecasts of economic situations in countries twice a year.

Commenting on how the EBRD assesses the government’s efforts for improvement of the investment climate, Gvindadze said the investment climate depends on not only the legislation and level of taxes and duties, but also the geopolitical situation on which the particular government can’t have an impact. Nevertheless, assessing the domestic indicators, Gvindadze stated that Armenia is leading a strictly monetary-credit policy and is conducting oversight over the banking system and, according to him, the specified factors help ensure stability amid the external and internal turbulence.