2017 economic forecasts positive for Armenia – economist

14:02 • 24.05.17
Economy

The positive dynamics in the world economy today inspire hope for progress also in Armenia, according to Bagrat Asatryan, a former president of the Central Bank.


Speaking to Tert.am, the economist highlighted particularly the expected economic growth in Russia as a contributing factor. “Russia expects an economic growth of minimum 1%-2%. That’s likely to have a positive impact on Armenia too,” he noted.


As another potentially positive trend, Asatryan cited the community enlargement program which he said is an absolute must for the country. “We have about 1,000 cities, towns and villages in Armenia, yet there is a zero population growth in many of them. It is practically impossible to keep so many schools under such conditions,” he added.


Asatryan said he regrets that many Armenian entrepreneurs (about 1,400 people) decided to set up businesses in Georgia after the signing of the Silk Road agreement. He attributed their choice to the more business-friendly environment in the country.


Asked whether the recently launched investors’ club is likely to contribute to further progress, the economist said he doesn’t think Armenia is now ready to attract investments. “Our country hasn’t closed down so to speak. There may be initiatives and certain investments, but Armenia is not objectively ready to allow any investment now; such is the system. There may even be successfully implemented initiatives and projects, yet that isn’t likely to attract the world to resolve problems here. Armenia remains a highly corrupt country governed by an oligarchic regime. The things went from bad to worse after the recent elections, with the [corrupt lawmakers] having seized the parliament, and the political illiteracy being at ease more than ever before,” he added.

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