Armenia’s economic policy needs revision – economist
06.02.2018,
14:13
The Armenian authorities need to revise their economic policy, Atom Margaryan, an economist and professor at the Armenian State University of Economics, said Monday at a news conference.
YEREVAN, February 6. /ARKA/. The Armenian authorities need to revise their economic policy, Atom Margaryan, an economist and professor at the Armenian State University of Economics, said Monday at a news conference.
Although Margaryan doesn't call into question the economic growth claimed by the country's authorities, he still finds quite reasonable public bewilderment over contradiction between so high economic growth and so high poverty rate in the country.
According to official reports, poverty rate was recorded at 29.4% in 2016, which is 0.4% less than in 2015.
«This means that something is wrong also in social policy in Armenia,» Margaryan said adding that the county's economy is vulnerable. «Mining industry still depends on fluctuations in world prices and agriculture is in desperate state.»
Ordinary citizens, he said, feel no benefit from the economic growth – only wealthy people take advantage of it.
Speaking about vulnerability of the economy, the economist pointed out Armenia's debt burden and increase of military spending.
According to the National Statistical Service, Armenia’s total public debt has grown 14% or by $832.5 million since late 2016 reaching $6 774.6 million by late 2017.
Margaryan also said that corruption and poverty make the country's economy more vulnerable.
He said the accumulated burden will force the new government to be formed in April to embark on new reforms, and this will be a quite painful process. -0----
Although Margaryan doesn't call into question the economic growth claimed by the country's authorities, he still finds quite reasonable public bewilderment over contradiction between so high economic growth and so high poverty rate in the country.
According to official reports, poverty rate was recorded at 29.4% in 2016, which is 0.4% less than in 2015.
«This means that something is wrong also in social policy in Armenia,» Margaryan said adding that the county's economy is vulnerable. «Mining industry still depends on fluctuations in world prices and agriculture is in desperate state.»
Ordinary citizens, he said, feel no benefit from the economic growth – only wealthy people take advantage of it.
Speaking about vulnerability of the economy, the economist pointed out Armenia's debt burden and increase of military spending.
According to the National Statistical Service, Armenia’s total public debt has grown 14% or by $832.5 million since late 2016 reaching $6 774.6 million by late 2017.
Margaryan also said that corruption and poverty make the country's economy more vulnerable.
He said the accumulated burden will force the new government to be formed in April to embark on new reforms, and this will be a quite painful process. -0----
