Decline of Armenian economy will make 7-12% in late 2009,
Hrant Bagratian says
30-05-2009 13:35:00 | Armenia | Economy
YEREVAN, MAY 30, NOYAN TAPAN. The decline of Armenian
economy will make 7-12% in late 2009. However, as the former
prime minister of Armenia, head of Freedom party Hrant Bagratian
stated at the May 26 press conference, new forecasts can be made
and new corrections can be probably be introduced in August.
In his words, the crisis in Armenia has now entered the
second stage which leads to a deep budgetary and banking crisis.
He said that it is not ruled out that the crisis in Armenia will
have a fourth stage as well. "This crisis has revealed the wrong
policy conducted by the state in the past 10 years," he noted.
As for the anti-crisis program of Armenian government, he
said that the government does not have any program as the
budgetary allocations are directed to where they are not
necessary. "For example, 10 million dollars was given to mining
industry, but it is not known whom this money was given to.
Kajaran Copper and Molybdenum Enterprise that has serious
problems today is mentioned, but Robert Kocharian is behind that
enterprise," the former prime minister said.
H. Bagratian called the package of legislative tax
amendments, which became a subject of heated discussion at the
National Assembly", "absolute nonsense".
According to H. Bagratian, the decline of Russian economy
is dependent on oil prices. If oil price rises in Russia, then
this country will have a real opportunity to overcome the
crisis, which in its turn will result in regulation of the
economic situation in Armenia. Besides, if the anti-crisis
program of the U.S. administration is successfully completed in
the summer, economic growth will be recorded in Russia in 6-9
months. "It means that there will be a positive change in
Armenia as well but it will take place in 2011-2012," H.
Bagratian said.