Tweet
DIASPORA STRUGGLING TO RECOVER ARMENIAN ECONOMY
The Messenger, Georgia
June 13 2014
Friday, June 13
The Armenian diaspora has decided not to deprive the Armenian
authorities of aid, as it is in deep need for financial support.
Armenia's economy regresses every year, as the country lacks the
necessary funds to implement its large economic projects. The financial
support for Armenia is vitally important for the post-Soviet country,
where an economic crisis keeps deepening. The Armenian authorities,
which are in desperate search for financial sources abroad, are trying
to convince the diaspora not to leave their homeland alone.
The Forum of Armenian Associations of Europe decided after lengthy
discussions to support the Armenian government by giving it 5-year
and 10-year loans.
"Armenia needs new loans as a human needs oxygen," President of the
Forum Ashot Grigoryan told local media.
He said the new government does not meet the Forum's expectations,
as it is continuing the previous government's policies. "All the
ministers of the new government were corrupt," Grigoryan said.
He was not optimistic about the future saying it is unlikely that
the Armenian ambassadors abroad will be able to attract investments.
Prime Minister Ovik Abramyan recently instructed the Armenian embassies
to turn into investment promotion agencies. But later it turned out
that there is still no investment project that Armenian ambassadors
can present to the potential foreign investors.
Grigoryan said the Armenian ambassadors are fully involved in their
own business. "They do not engage themselves in diplomacy, they are
half businessmen," he added.
Armenia is not an attractive state in terms of investment. The presence
of the "shadow" economy makes Armenia unattractive for investors.
In such a situation, Armenia can only rely on the financial aid of the
diaspora, which continues to remain an economic and political power
for the country. With its loans, the diaspora tries to resuscitate
the Armenian economy, which is in a deep coma.
The Messenger, Georgia
June 13 2014
Friday, June 13
The Armenian diaspora has decided not to deprive the Armenian
authorities of aid, as it is in deep need for financial support.
Armenia's economy regresses every year, as the country lacks the
necessary funds to implement its large economic projects. The financial
support for Armenia is vitally important for the post-Soviet country,
where an economic crisis keeps deepening. The Armenian authorities,
which are in desperate search for financial sources abroad, are trying
to convince the diaspora not to leave their homeland alone.
The Forum of Armenian Associations of Europe decided after lengthy
discussions to support the Armenian government by giving it 5-year
and 10-year loans.
"Armenia needs new loans as a human needs oxygen," President of the
Forum Ashot Grigoryan told local media.
He said the new government does not meet the Forum's expectations,
as it is continuing the previous government's policies. "All the
ministers of the new government were corrupt," Grigoryan said.
He was not optimistic about the future saying it is unlikely that
the Armenian ambassadors abroad will be able to attract investments.
Prime Minister Ovik Abramyan recently instructed the Armenian embassies
to turn into investment promotion agencies. But later it turned out
that there is still no investment project that Armenian ambassadors
can present to the potential foreign investors.
Grigoryan said the Armenian ambassadors are fully involved in their
own business. "They do not engage themselves in diplomacy, they are
half businessmen," he added.
Armenia is not an attractive state in terms of investment. The presence
of the "shadow" economy makes Armenia unattractive for investors.
In such a situation, Armenia can only rely on the financial aid of the
diaspora, which continues to remain an economic and political power
for the country. With its loans, the diaspora tries to resuscitate
the Armenian economy, which is in a deep coma.