Social conditions for Armenians have deteriorated: Bagrat Asatryan

The year 2010 will end with economic growth for Armenia, Bagrat Asatryan, former President of Armenia’s Central Bank, told a press conference today.

According to him, that growth will, however, not be accounted for by positive economic processes, but rather by the fact that last year economic indicators significantly reduced, i.e. the growth will be registered only compared to the 2009 indicators.

“Last year I had forecast a double-digit economic decline. I was saying [it would be] 10-11%. I was surprised even at the 15% decline,” said he, adding that with its economic indicators Armenia has this year been able to surpass only Kyrgyzstan.

Further he said that compared to the same period in 2009, social conditions for Armenians have deteriorated far more.

“You see complaints everywhere, you observe noticeable economic decline in separate spheres of the economy that cannot be registered in figures,” he noted.