BRUSSELS. – World financial crisis revealed Armenia’s key issues, which are insufficient economic diversification, system of ineffective state management and unequal conditions for competitiveness, Armenian PM Tigran Sargsyan stated at the Assembly session of European People’s Party in Brussels.

According to the PM, world economic crisis had its impact on increase of poverty, external state debt and high inflation in Armenia. Besides, these factors reduced potential of making improvements. However, Armenia’s economy gradually recovers, he added.

"We registered 5% increase for nine months this year. In addition, economy diversification is gradually developing. We aim to achieve the growth, which can influence on development by establishing new jobs and improving poverty. In this regard, I brief on the agenda of institutional improvements, including strengthening democratic institutions, improving all levels of the educational system, as well as tax and custom services by enabling competitiveness,” Sargsyan stated.