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10 STEPS TO COME OUT OF THIS SITUATION
Story from Lragir.am News:
http://www.lragir.am/engsrc/country23915.html
Published: 14:03:49 - 25/10/2011
Former Prime Minister Hrant Bagratyan said at today's press conference
that he can offer 10 steps to rebuild the economy of Armenia.
First - sterilization of incoming aid to Armenia, that is, the
transfers, which are about USD 2 billion. The Central bank of Armenia
should buy all the currency and increase the reserves of the country.
A stabilization fund should be established of these funds, lending
rates should be reduced from 15% to 3-4%, and the dram should not be
artificially restrained. Bagratyan says that everything must be done
to provide 40% of people be engaged in the business.
The second step is the prevention of deflation in a quiet drama. The
third is to introduce a progressive tax rate, the fourth is to
impose taxes on banks as the real economy and deprive them of their
privileges. "If banks are well, so the industry is bad". The fifth
is to sell the mines, and the prices should be determined by the
Parliament. Sixth is to consolidate the budget, "it is impossible to
give all state guarantees". Seventh - to forbid the government to
provide tax relief. Eighth - to exclude write-offs of bad loans in
the banks. Ninth - monopoly control, the income tax should be raised
income to 70%, and to abolish monopolies altogether. And the tenth-
"we must understand where our reserves are by what percentage they
are delivered, who defines them and why it does not pass through
parliament", said Bagratyan.
He believes that the Central Bank cannot be run by a person who is
an agronomist-mechanic by profession.
As to the question whether new shocks can be expected, Hrant Bagratyan
said that nothing good is expected, and there is nothing more to be
"shaken". He added that 65% of Armenia's population is chronically
malnourished. Over the past three years prices have risen by 35%,
and salaries - by 6%. The remaining 29% was used by the banks,
said Bagratyan.
As for the Free Trade Area of â~@~Kâ~@~Kthe CIS, which Armenia joined,
Hrant Bagratyan believes that he cannot comment on this because he
could find nothing similar anywhere. He wonders where the text is,
and why it is not published".
The former prime minister also commented on the words of the current
prime minister, who refers to the increase Armenia's rating in world
agencies, in particular, Businees Doing. Hrant Bagratyan noted that
Armenia has risen from 61st to 55th, but three years ago was on
the 34th. Moreover, in 7 out of 10 parameters in Armenia this year
recorded a recession.
Story from Lragir.am News:
http://www.lragir.am/engsrc/country23915.html
Published: 14:03:49 - 25/10/2011
Former Prime Minister Hrant Bagratyan said at today's press conference
that he can offer 10 steps to rebuild the economy of Armenia.
First - sterilization of incoming aid to Armenia, that is, the
transfers, which are about USD 2 billion. The Central bank of Armenia
should buy all the currency and increase the reserves of the country.
A stabilization fund should be established of these funds, lending
rates should be reduced from 15% to 3-4%, and the dram should not be
artificially restrained. Bagratyan says that everything must be done
to provide 40% of people be engaged in the business.
The second step is the prevention of deflation in a quiet drama. The
third is to introduce a progressive tax rate, the fourth is to
impose taxes on banks as the real economy and deprive them of their
privileges. "If banks are well, so the industry is bad". The fifth
is to sell the mines, and the prices should be determined by the
Parliament. Sixth is to consolidate the budget, "it is impossible to
give all state guarantees". Seventh - to forbid the government to
provide tax relief. Eighth - to exclude write-offs of bad loans in
the banks. Ninth - monopoly control, the income tax should be raised
income to 70%, and to abolish monopolies altogether. And the tenth-
"we must understand where our reserves are by what percentage they
are delivered, who defines them and why it does not pass through
parliament", said Bagratyan.
He believes that the Central Bank cannot be run by a person who is
an agronomist-mechanic by profession.
As to the question whether new shocks can be expected, Hrant Bagratyan
said that nothing good is expected, and there is nothing more to be
"shaken". He added that 65% of Armenia's population is chronically
malnourished. Over the past three years prices have risen by 35%,
and salaries - by 6%. The remaining 29% was used by the banks,
said Bagratyan.
As for the Free Trade Area of â~@~Kâ~@~Kthe CIS, which Armenia joined,
Hrant Bagratyan believes that he cannot comment on this because he
could find nothing similar anywhere. He wonders where the text is,
and why it is not published".
The former prime minister also commented on the words of the current
prime minister, who refers to the increase Armenia's rating in world
agencies, in particular, Businees Doing. Hrant Bagratyan noted that
Armenia has risen from 61st to 55th, but three years ago was on
the 34th. Moreover, in 7 out of 10 parameters in Armenia this year
recorded a recession.