On July 26, the Armenian-European Policy and Legal Advice Center (AEPLAC) presented its annual report, "Armenian Economic Trends: 2006," informed Azg daily. The report contains in-depth analysis of the main macroeconomic developments in Armenia in 2006 and international comparisons through a number of indicators.  According to the AEPLAC report, in the past five years, Armenia’s GDP grew three-fold, of which 61 percent was real growth. The real inflation in the economy was 14 percent, while the remaining 25 percent was due to the devaluation of the U.S. dollar against the Armenian dram. Meanwhile, unemployment levels decreased to 7.4 percent. 2006 indicators show that Armenia became the country with the fifth fastest economic development in the list of 181, with a growth rate of 13.3 percent, indicated the report.

As the news source reported, the European Director of AEPLAC Kenneth Myunter noted that if the economic growth in Armenia continues at the average rate of the last 5 years, Armenia will reach the medium index of the 27 European countries in 2023.

This information was originally published July 28, 2007 (www.azg.am).