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ECONOMIST: QUITE LARGE CAPACITY OF ARMENIAN ECONOMY NOT USED TO ITS FULL EXTENT
/ARKA/
October 22, 2010
YEREVAN
YEREVAN, October 22. /ARKA/. Quite large capacity of Armenian economy
is not being used to its full extent now, Tatul Manaseryan, adviser
to the National Assembly Speaker, said at a news conference on Friday.
"Today we have more troubles than achievements," he said.
Armenian economy, he said, is developing slowly, while shadow dealing
is growing three or four times faster.
According to statistical reports, GDP grew 2.8% in Jan-Sept 2010,
compared with the same period a year earlier, to AMD 2386.7 billion.
Manaseryan thinks that either entrepreneurs or ordinary people don't
use their free funds or use them wrongly.
He stressed that it would be better to lower interest rates on deposits
and lend the deposited money to businessmen, especially to small-
and mid-scale businesses.
The lawmaker is convinced that high interests on deposits hobble the
development of the real sector of the national economy.
"Now, amid the crisis, when banks use the government funds, including
those borrowed from other countries and international organizations,
the government should dictate rules of the game," the expert said
adding that interest rates shouldn't be higher than 5% or 6%.
Otherwise, he said, small and mid-scale businesses will remain
stagnated hobbling the development of the whole economy.
Manaseryan also stressed the importance of using professional abilities
of Armenians living abroad.
"Today we haven't idea of the economic power of Armenian communities
overseas," he said.
From: A. Papazian
/ARKA/
October 22, 2010
YEREVAN
YEREVAN, October 22. /ARKA/. Quite large capacity of Armenian economy
is not being used to its full extent now, Tatul Manaseryan, adviser
to the National Assembly Speaker, said at a news conference on Friday.
"Today we have more troubles than achievements," he said.
Armenian economy, he said, is developing slowly, while shadow dealing
is growing three or four times faster.
According to statistical reports, GDP grew 2.8% in Jan-Sept 2010,
compared with the same period a year earlier, to AMD 2386.7 billion.
Manaseryan thinks that either entrepreneurs or ordinary people don't
use their free funds or use them wrongly.
He stressed that it would be better to lower interest rates on deposits
and lend the deposited money to businessmen, especially to small-
and mid-scale businesses.
The lawmaker is convinced that high interests on deposits hobble the
development of the real sector of the national economy.
"Now, amid the crisis, when banks use the government funds, including
those borrowed from other countries and international organizations,
the government should dictate rules of the game," the expert said
adding that interest rates shouldn't be higher than 5% or 6%.
Otherwise, he said, small and mid-scale businesses will remain
stagnated hobbling the development of the whole economy.
Manaseryan also stressed the importance of using professional abilities
of Armenians living abroad.
"Today we haven't idea of the economic power of Armenian communities
overseas," he said.
From: A. Papazian