2012 fruitful year for Armenia's Economic Recovery: Jean-Michel Hapi

YEREVAN, FEBRUARY 1, ARMENPRESS: 2012 was a productive year as to the economic recovery, GDP growth, high execution recorded in the various branches of the economy, the increase of tax collection,Head of the World Bank Armenia officeJean-Michel Hapi came forth in the briefing with the journalists on February 1.

Referring to the recent tax reforms that arose some dissatisfaction among small and medium-sized businesses economy entities, Hapi noted they are closely cooperating with State Revenue Committee, in order amendments are made not only in tax administration physical infrastructures but private sectors as well, Armenpress reports.

Speaking about WB earlier assessments that mining industry is one of the most vulnerable branches of Armenia's economy , Jean-Michel Hapi recalled efforts are being made to meet the legal acts in lithosphere with the international standards. ''Armenia will become socially more attractive country if the amendments are called into life'' Head of the World Bank Armenia office expressed his confidence. Speaking about presidential candidates' election programs referring to the economic development, Hapi stated he is guided not by the pledges of particular presidential candidate, but Government elaborated and approved activities schedule.