The World Bank organized the presentation of the World Development Report 2024 (WDR 2024), titled "The Middle-Income Trap", which was also attended by Karlen Khachatryan, Dean of the Faculty of Economics and Management at YSU, and Associate Professor Grigor Hayrapetyan, Head of the Chair of Economics and International Economic Relations.
The presentation, held on February 12, began with a speech by Rolande Pryce, World Bank Regional Director for the South Caucasus. The event featured presentations by World Bank economists.
Roberto N. Fattal Jaef and Forhad Shilpi, Senior Development Economists in the World Bank's Development Economics Vice Presidency and the main authors of the WDR 2024, presented the key findings of the report and discussed the characteristics of economic growth in middle-income countries. Based on development experiences since the 1950s and advancements in economic analysis, the authors of the WDR 2024 highlighted how developing economies can avoid the "middle-income trap".
Ivailo Izvorski, the World Bank's Chief Economist for Europe and Central Asia, presented a report titled "Towards Higher Incomes in Europe and Central Asia: Opportunities for Armenia". He shared the findings related to Europe and Central Asia, and addressed Armenia's current challenges, highlighting the valuable experience gained.
The presentations were followed by an expert panel discussion. The panelists, including Martin Galstyan, Governor of the Central Bank of Armenia, Vache Gabrielyan, Dean of the Manoogian Simone College of Business and Economics at the American University of Armenia, Avag Avanesyan, Deputy Minister of Finance of Armenia, as well as representatives from the academic and private sectors, discussed new ways of growth through reforms in Armenia. Karlen Khachatryan, Dean of the Faculty of Economics and Management at YSU, also participated in the discussions.
The faculty values the deepening of cooperation with international organizations and the involvement of its leadership and academic staff in such professional discussions. This enables YSU specialists to explore global studies on transformations taking place worldwide and the analyses related to them. Participation in such discussions is important not only from the perspective of transferring international experience but also for gaining insights into universal issues that shape the development paths of Armenia’s economic policy. Meetings with experts of international stature help Armenian economists develop new approaches aligned with global trends.
