Tweet
PREVIOUS AUTHORITIES RESPONSIBLE FOR 2009 ECONOMIC DECLINE IN ARMENIA
Tert.am
04.11.11
Armenia's previous authorities are 90% responsible for the 2009
economic decline, Bagrat Asatryan, an ex-chairman of the Central Bank
of Armenia (CBA), told journalists Nov. 4.
Armenia is not a country it was five years ago. "Under Robert Kocharyan
we registered two-digit growth. However, it was at the expense of its
quality - it was officially declared growth, which did not promote
social progress. We did not have any quality growth and let go the
favorable situation. We reduced exports and increased imports,"
the expert said.
The international community is unwilling to help Armenia, which is the
reason for a small number of official grants intended for the country.
The authorities should at least find ways of filling in the gap as
Armenia's economy has sufficient reserves.
Shadow GDP is 10 to 25 per cent in Armenia, and shadow incomes exceed
40 per cent, Asatryan said.
Tert.am
04.11.11
Armenia's previous authorities are 90% responsible for the 2009
economic decline, Bagrat Asatryan, an ex-chairman of the Central Bank
of Armenia (CBA), told journalists Nov. 4.
Armenia is not a country it was five years ago. "Under Robert Kocharyan
we registered two-digit growth. However, it was at the expense of its
quality - it was officially declared growth, which did not promote
social progress. We did not have any quality growth and let go the
favorable situation. We reduced exports and increased imports,"
the expert said.
The international community is unwilling to help Armenia, which is the
reason for a small number of official grants intended for the country.
The authorities should at least find ways of filling in the gap as
Armenia's economy has sufficient reserves.
Shadow GDP is 10 to 25 per cent in Armenia, and shadow incomes exceed
40 per cent, Asatryan said.