ARMENIA LIVING ON CREDIT CANNOT SURPASS A NUMBER OF
EUROPEAN COUNTRIES BY ECONOMIC INDICES, TATUL MANASERIAN
DECLARES
17-01-2007 17:04:00 | Armenia | Economy
YEREVAN, JANUARY 17, NOYAN TAPAN. "It is a paradox that
Armenia living on credit surpasses the economic index of a
number of European countries. Armenia living on credit cannot
appear on high economic scales, as poverty also grows
simultaneously with economic growth." RA MP, Economics Doctor
Tatul Manaserian expressed such an opinion at the January 17
press conference. He said that the data of the report publicized
lately by the Heritage Foundation organization cannot be
objective, as in case of Armenia the expression "economic
growth" indeed means only rehabilitation growth of economy. In
T.Manaserian's words, state structures provide data to such
authoritative international organizations. And these data, in
the MP's words, remind of Soviet years, when "there was
falsehood, terrible falsehood and statistics."
T.Manaserian said that the three factors providing main
growth of gross output - construction, agriculture and industry
underwent serious changes in 2006. According to his
observation, industry declined by 16-20%, agriculture made 0% in
the growth of GDP, the lion's share of which belongs to
construction. And 90% of the latter, as T.Manaserian
emphasized, is in shade.