Opposition ANC promises 11 percent GDP growth
17.04.2012,
17:19
A former prime minister, Hrant Bagratian, who is a senior member of the opposition Armenian National Congress (ANC), told a news conference that out-emigration would stop if the economic expansion reaches 7.4%. He said achieving an 11% economic growth is not a difficult job either.
YEREVAN, April 17, /ARKA/. A former prime minister, Hrant Bagratian, who is a senior member of the opposition Armenian National Congress (ANC), told a news conference that out-emigration would stop if the economic expansion reaches 7.4%. He said achieving an 11% economic growth is not a difficult job either.
Presenting the ANC’s economic manifesto ahead of May 6 parliamentary elections, he said despite many vacancies Armenians nonetheless fail to find jobs and continue leaving their country. He said when the ANC comes to power it will eliminate this misbalance and make the labor market effective.
"We intend to sterilize half of private foreign transfers and create a development fund. We will also raise the level of investment to $2 billion at today's prices, which will let us reach 11-12% economic growth," he stressed.
He said with 11-12% economic growth ANC will ensure a 17% increase in the state budget, while the real growth in revenues will be double of economic growth rate. He said also the main economic objective of the ANC will be to eliminate all monopolies. According to him, customs reforms will help in the struggle against the oligarchs and elimination of monopolies.
"You will notice that after our reforms the number of petrol importers will surge from 2 to 200," he added.
He said the ANC manifesto proposes also to increase the number of entrepreneurs , except for persons employed in the agricultural sector, to 200,000 from the current 55,000, of whom only 12,000 are active. "Thus, together with the farmers the number of entrepreneurs will reach 500 000" said Bagratian.
He said the ANC election program calls for a drastic increase in the minimum wage from current 32,500 drams to 145,000 drams within five years, and for an increase in pensions from 29,700 to 99,000 drams. Bagratian also said that median nominal wages will rise to 245,000 drams in 5 years.
The average monthly nominal wage in Armenia in February 2012, according to preliminary estimates, was 114,719 drams ($295, 223 euros or 8,797 rubles), up 6.3% over the same period in 2011. ($1-392.55 drams). -0-
