Armenian economist critical of State Budget

13:32 • 22.11.13
Economy

Armenia’s 2014 State Budget falls short of addressing the challenges that the country may face next year, according to an economist.


Speaking to reporters on Friday, Tatul Manaseryan said he doesn't think the chief financial document reflects Armenia’s real economic potentials.


“It can really record a 10% growth. In our estimation, it [the economic growth] is 30% if, of course, all the potentials are used. Armenia’s economy is recovering, not growing, as a matter of fact, but the recovery places are poor,” he noted.


Manaseryan addressed the steps which he believes the Armenian authorities should take to ensure a double-digit growth. “It is important to consider our resources: human, natural, manufacturing etc. That hasn’t been done to date. It is necessary to create a national model of competitiveness. If we succumb to the appeals from the West, that will be no use to us. It is important to have a clear-cut national model of economic development,” he added.


The economist further stressed the importance of developing model aimed at ensuring military and economic security. As for the challenges Armenia may face in case of joining the Eurasian Customs Union, Manaseryan said he hasn’t conducted any studies of either private or state-funded companies to say anything for sure.


“It is necessary to study the implications of reformed customs tariffs. It is important to estimate the damages to the State Budget revenues, caused by the customs duties because, to the best of my knowledge, products will not be cleared of custom in the CU area. These studies are of vital importance,” Manaseryan added.
 

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