The Economic Development Research Center (EDRC) has presented the results of its analytical periodical – “Armenia Economic Report 2016” on Friday in Yerevan. As the Center reports, in 2016 the general theme of the report has been “Economic integration of the Syrian refugees in Armenia”.

“Armenia Economic Report 2016” is drafted by the Economic Development and Research Center (EDRC). The Report is prepared in cooperation with the Ministry of Economic Development and Investments of Armenia with the support of the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). The project was realized with support of the “Private Sector Development in the South Caucasus” programme on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ),

Mushegh Tumasyan, Director at EDRC noted in his opening remarks that the primary goal of the report is to analyze and assess Armenia’s economic development perspectives and policies, raise the awareness and create basis for extended discussions and drafting policy options.

“Each edition reflects on the economic trends of the previous year, featuring thematic analysis and discussions on certain aspects of economic policy. “Armenia Economic Report 2016” covers Economic integration of the Syrian refugees in Armenia,” Mr Tumasyan noted.

“The private sector of the economy lived through hard periods against the backdrop of the global economy slowdown, affecting the Armenian economic developments. Amid a turbulent period, the public expectations about higher achievements are rising, in a more positive trend, though, the slowdown shapes a resilience and our competitiveness to resist the hardships,” Deputy Minister of Armenia’s Ministry of Economic Development Tigran Khachatryan noted in his remarks.

Wilhelm Hugo, Team Leader of the GIZ “Private Sector Development in South Caucasus” project in Armenia spoke of the actions carried out within the programme aimed at sustainable and inclusive economic development in the country.

“In April 2017, the program enters its new three-year phase to focus on “green and inclusive” economic development, based on professional training as part of   the Skills for Business and Business for Skills strategy,” said Wilhelm Hugo, adding the social-economic analysis covered in the second part of the report will raise awareness about facts. challenges and opportunities of the target audience.

The first part of the presentation outlined recent trends of the Armenian economy as well as medium-term predictions, while the second part expanded on the social-demographic characteristics of the Syrian Armenians, the pace of their integration into the Armenian market, assessed the existing needs.