Yerevan, December 12 /Mediamax/. The economy growth in Armenia in 2005 exceeded the index of 1989, the economist of the European Bank for Reconstruction and Development (EBRD) Alexander Cirmicu stated in Yerevan today.

Mediamax reports that the EBRD presented in Yerevan today the Transition Report 2006. The representative of the Eurobank noted that the economic growth at the rate of 13,9%, registered in 2005 in Armenia, was secured mainly at the expense of construction, services and agriculture. Alexander Cirmicu noted that the given branches will help to secure positive development tendencies in Armenia, but only in a short-term prospect.

He stressed that the continuing strengthening of the Armenian dram and the high prices for energy carriers, which have lead to strong inflationary pressure, represent considerable mid-term risks.

According to EBRD forecasts, in 2006 the economic growth in Armenia will make 12,5%, and in 2007 - 8,5%.