"The country we are living in now is completely different from the country that joined the World Bank 25 years ago," said World Bank Regional Vice President for Europe and Central Asia Cyril Mueller at the “Armenia in the Future” Forum.

According to him, when Armenia joined the World Bank, it was one of the fastest growing republics of the Soviet Union known for its scientific and technological achievements, but in 1992, due to a serious foreign exchange deficit or production collapse, real wages fell dramatically. In addition, there were problems with refugees and homeless people as a result of the earthquake, but in that difficult period Armenia decided to take decisive action. "And the country we are in now is completely different from the country that joined the World Bank 25 years ago."

He also mentioned that during 25 years the WB worked with local and international partners to assist Armenia in the implementation of its ambitious programs. "Of course, looking at the future, we see that there are still many things to do, there are still many vulnerable strata in Armenia, and we are trying to overcome the problems which the country faces with our partners and the government. By implementing the reform program, Armenia will be able to become a middle-income country by 2025, "said Siril Mueller.

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