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Fostering Small Business Growth. Micro Enterprise Development Initiative Final Report

机译:促进小企业增长。微型企业发展计划最终报告

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A Time of Transition Armenia's economic recovery in the wake of the Soviet collapse has been turbulent. During the 1990s, Armenia suffered an estimated 60 percent decrease in gross domestic production (GDP) and hyperinflation of up to 11,000 percent. This economic breakdown caused a crisis in the banking system, and by 1998, more than half the population--55 percent of some 3 million people--lived below the poverty line. Ten years later, foreign investment and exports continue to lag behind those of Armenia's neighbors despite strong economic growth. Armenia's economic problems are aggravated by closed borders with neighboring Turkey and Azerbaijan due to a lingering dispute over the territory of Nagorno-Karabakh. This leaves two of Armenia's four international borders closed to trade, contributing to chronically high unemployment In addition, Armenia has lost up to 15 percent of its population since 1992 as those with skills move abroad in search of work. To address these issues and help build a competitive private sector, the United States Agency for International Development (USAID) launched the Micro Enterprise Development Initiative (MEDI) in 2003. The aim was to create new opportunities for impoverished Armenians, especially those living outside the capital, Yerevan, by supporting the growth and development of small businesses.

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