Armenia's Economy Has an Oligarchic and Monopolistic Structure: Bekor Papazyan

Armenia’s economy can grow faster should its market be more open for investments, Director of National Competitiveness Fund Bekor Papazyan told a press conference today.

“If the market is open for investors and businesses the rules of game will be much clearer, and they will be able to work in line with the law,” said he.

According to Papazyan the international bodies evaluate Armenia’s economy negatively due to its monopoly and oligarchic structure, which is a serious problem.

Papazyan considers the Government’s bail-out program as a positive step.

“The economic growth was quickly restored which does not take place in all countries. The governments accentuation is a correct one; the economy should be diversified,” said Papazyan.