Armenian MP discloses truth about country's economy

By Rashid Shirinov

The failure of the Armenian government to overcome economic and social problems in the country is the fact of which Armenian citizens are well aware.

In early 2018, the authorities again tried to deceive the population, saying that the country allegedly achieved 7.5 percent of economic growth last year. However, Armenian experts and even MPs opt to uncover the real state of affairs.

“The economic growth of 7.5 percent is not inclusive, it does not reflect the problems of citizens, and there is no justification that this growth will ensure the creation of jobs,” Sergey Bagratyan, Armenian MP from the Tsarukyan faction, said at his recent meeting with journalists.

He noted that if Armenia would have really achieved the economic growth, an additional income of 100 billion drams ($208 million) should have been in the state budget.

“If this amount would be there, the allowance for dysfunctional families or pensions should have been increased. In the end, this economic growth should have ensured immigration, but we have a drain on human and financial capital,” he said.

Bagratyan is sure that there are no investments in the Armenian economy, emigration continues, and changes in the citizen’s life are negative.

“Presently citizens acquire essential goods at a more expensive price, which means that this economic growth did not happen in the real sector,” the MP stressed.

Unlike the fictional reality that the Armenian authorities are speaking about, this is the real situation in the country. Armenian experts note that the government is only engaged in pretending to solve economic and social problems and allegedly create a favorable environment. The real statistics show that the decline in the quality of life of Armenian citizens is getting deeper.

Armenia can no longer dream of foreign investments, the capital export from this country is obvious, and this is primarily due to the unattractive business environment in the country. Investors’ expectations for Armenia are negative, and therefore they export their capital.

In addition, it is hard to believe that a country that has occupied lands of another state can be attractive for foreign investments. Therefore, the only way for Armenia to overcome the crisis is to show its political will and resolve the Nagorno-Karabakh conflict based on justice, thereby normalizing relations with Azerbaijan and Turkey.

Armenia, which has been carrying out aggression against Azerbaijan for more than 25 years, has no prospects of worthy economic development and strengthening of its statehood if it continues to pursue the same domestic and foreign policies, and Armenia’s population should have serious thought about it.