Projected GDP growth not to be achieved
29.11.2016,
16:57
It is evident that the projected 2.2 % GDP growth will not be achieved, the chairman of the National Union of Employers of Armenia Gagik Makaryan told a news conference today.
YEREVAN, November 29. /ARKA/. It is evident that the projected 2.2 % GDP growth will not be achieved, the chairman of the National Union of Employers of Armenia Gagik Makaryan told a news conference today.
"In the first 10 months the Armenian economy grew by 0.4% only and it is unlikely to achieve the budgeted figure by the end of the year. At best, we will finish the year with 1% growth," - he said.
According to Makaryan, this situation means that there are no positive changes in the economy.
"We are drifting on the spot", - he said.
In his words, the major obstacles hindering development are the unhealthy atmosphere in the domestic market and corruption, which result in low productivity, inefficient management, unfair competition and shadow economy.
Makaryan believes that another reason behind the lack of positive dynamics is frequent changes of the laws. "Contacts with private sector are important in the development of laws, but laws in our country are developed without taking into account the economic benefits for the private sector", - he said. -0-
"In the first 10 months the Armenian economy grew by 0.4% only and it is unlikely to achieve the budgeted figure by the end of the year. At best, we will finish the year with 1% growth," - he said.
According to Makaryan, this situation means that there are no positive changes in the economy.
"We are drifting on the spot", - he said.
In his words, the major obstacles hindering development are the unhealthy atmosphere in the domestic market and corruption, which result in low productivity, inefficient management, unfair competition and shadow economy.
Makaryan believes that another reason behind the lack of positive dynamics is frequent changes of the laws. "Contacts with private sector are important in the development of laws, but laws in our country are developed without taking into account the economic benefits for the private sector", - he said. -0-
