SAM presents report titled “Analysis of Armenia’s economy”

SAM presents report titled “Analysis of Armenia’s economy”
# 07 February 2013 09:33 (UTC +04:00)

APA reports that the report informed about Armenia’s economy, social situation in the country and difficult living conditions of the people.

Delivering a keynote speech, SAM director Farhad Mammadov expressed his views on the upcoming presidential elections in Armenia. Estimating the assassination attempt against presidential candidate Paruyr Hayrikyan as a challenge to the current leadership, Mammadov noted the fact that the main forces will not participate in the elections on February 18 shows actually Serz Sargsyan will participate in the elections with no rival: “The politics in Armenia has been formed on lies. The world community is not so interested in what is happening in this country, the US and European Union are keeping silence. Armenia’s economy and society are exposed to militarization, 10% of GDP is being spent on these purposes. As a result of this, most of those applying for citizenship in European countries are Armenians.”

Following this, the presentation of the report was held. The report says that the global financial crisis in 2009 seriously affected Armenia. GDP fell by 14.1%, real GDP made up $3 bn. Only late in 2012, with great difficulties Armenia’s economy could return to its pre-crisis level.

Speaking about the budget sector, Zaur Valiyev said the fact that a great part of the tax revenues, which account for more than 70% of Armenia’s state budget, comes from the trade sector, means that the real sector of Armenia’s economy is weak, tax load falls on small and medium-sized entrepreneurship. Salary or pension increases are not envisaged in Armenia’s budget for 2013.

Speaking about the social situation of the country, Valiyev said birth rate is weakening in Armenia, the people are growing older. According to the report, 71 374 citizens left the country in 2011, the citizens, who left the country in the past three years, account for 5% of the total population.

#
#

THE OPERATION IS BEING PERFORMED