"Job creation and productivity growth are at the forefront of the global development agenda. The central challenge today for the government of Armenia is to find new sources of long-term economic growth to become an upper middle-income country, with a view to experiencing a substantial transformation of its economic structure to one that is resilient to external shocks in the medium term. A dynamic and vibrant private sector is thus crucial to Armenia’s economic growth, with firms making new investments, creating jobs, improving productivity, and promoting growth. Entrepreneurial activity is pivotal to the continued dynamism of the private sector, with the generation of new businesses fostering competition and economic growth.
