CRITICISM
Armenia's economic reality is characterized by continuous evolution and its strongly influenced by instable situation in the region. A reality full of lights and shades, but which, on the whole, seems to be able to encourage a big presence of foreign entrepreneurship in Armenia in short-term and medium-term perspectives.
However, if the local authorities continue to be engaged in the realization of reforms, as they have done in the course of the last years, Armenia's economic perspectives cuold be encouraging and the risks concerning the difficult process of economic development taking place in the country could be under control on the whole. This is also because most of the negative aspects above are overcome by several encouraging developments (concrete or, at least, underway): progress in the process of Nagorno Karabakh conflict settlement; Turkey's possible accession to the European Union (foreboding normalization of relations between Ankara and Yerevan and positively influencing the Nagorno Karabakh crisis): increase of the volume of direct foreign investments; poverty reducation strategy paper approved by the government last year, which envisages a more equal distriubution of national wealth in the near future and thus higher purchasing power by a larger part of population.
ARMENIAN ECONOMY: EMBASSY-ICE OFFICE JOINT REPORT (2nd SEPTEMBER OF 2004)
The Italian Embassy in Yerevan and the ICE Office in Moscow draw up semi-annual-joint-reports on the situation of the Armenian economy, which through study of the country's macroeconomic picture and main areas of interest can provide Italian businessmen with useful information to plan their internationalization activity, also can present the current economic activities carried out both by the diplomatic-consular department and the ICE.
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