INTERVIEW WITH SIRILE MULLER, VICE-PRESIDENT OF THE WORLD BANK'S EUROPEAN AND CENTRAL ASIAN DEPARTMENT TO FINAGENT.AM WEBSITE:
Hello, Mr. Muller. The region that you are heading to was initially defined as a transitional one. You were also among the first to visit Armenia in the early 1990s. How did our country move to a new economic system?
First of all, I must say that it's always nice to visit Armenia. When I compare my first visit with today's, I notice a great positive change. I remember when I visited in 1992, water and electricity were given for a few hours. Armenia managed to implement serious reforms in the field of energy, water management and infrastructure. Now, when I'm walking in Yerevan streets, I see more smiling faces than in the early 90's.
So, today's Armenia is a history of successful changes. Nevertheless, we are here, as the current situation does not satisfy Armenia. The government wants to provide better conditions with new improvements.
The World Bank team conducted a series of discussions on a report called Earth's systematic assessment. What are the main conclusions?
The country's systematic assessment is a program to reveal the main constraints, the possible investment directions. Here are some of the main conclusions. One is that Armenia should continue to improve people's living standards and ensure economic growth. That's why it is necessary to produce high value goods and to work more efficiently in the direction of export, to find new markets. This means that the private sector should invest in human capital. Already today it is necessary to understand what children will learn. Of course, we have found not all the solutions. But we believe that if Armenia invests in human capital, if competitiveness in the private sector is ensured, the government carries out a successful reform of the management system, the country's successful future will be guaranteed. You'll find out more about this in the near future when we finish the systematic assessment of the country.
You are responsible for WB activities in more than 30 countries. What is Armenia's competitiveness?
Armenia was one of the first countries to start working with. It is quite interesting compared to other countries. Armenia belongs to a small group of countries that took quick actions in the early 90s when the country was in a bad state. These decisive steps have given a positive result. The countries for whom I am responsible are a little more than Armenia's indexes, but at the expense of the European Union. Geographical position and geopolitical situation are also important. Nevertheless, having no oil and gas, Armenia managed to record a good result. It is highly motivated in terms of progress.
What will the WB strategy be for Armenia over the coming years and what are the forecasts for 2020?
Your government has set a goal of ensuring 5% annual growth in the medium term. This is a fairly high indicator, considering the difficult time for the global economy. But this is a feasible program. In order to achieve that 5% economic growth, a more viable private sector will be required, with a larger number of companies, with an educated workforce, including educated women. Therefore, in the future, Armenia should use the its opportunities. Armenia's economic policy should be more focused on the outside world.
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