Friday, April 29 2011 17:34
Armenian parliament member advices IMF and WB not to nose into interior affairs of Armenia
Arminfo. I think that it is time for the International Monetary Fund and the World Bank to stop nosing into interior affairs of Armenia, deputy from ARF Dashnaktiutyun, Artsvik Minasyan, told journalists today.
"Finally, the president is going to fulfill a promise about delivery of the tax privileges and he has to keep his word irrespective of the fact if international structures welcome it or not. It is still relevant today, taking into account that the IMF and the WB assess the situation in the Armenian economy stemming only from the current situation, making not so correct predictions on its basis. For this reason, the leadership of Armenia has to finally exhibit bravery and not to go on a leash of the IMF and abandon to blindly follow the advises of this financial structure. It is necessary to deliver tax privileges to the spheres which need them as soon as possible, as we can gain the recovery of the economy only in this way", - he said.
At the same time, Minasyan thinks that the machinery on keeping inflation used by the Armenian Central Bank are ineffective and not in line with the real conditions of the republic. "The experience of not only of Armenia but also several countries of the world shows that permanent raising of the refinancing rate is not effective and gives only a short-term result. The monetary instruments of Central Bank are not in line with challenges against our economy. The financial system is far from the real economy, and the growth of the economy crediting against the background of its stagnation is evidence of that. For this reason, there is no ground for the optimistic predictions about the future of the Armenian economy, taking into account falling of the macro-economic indices, the level of the life of the population and the fact that they continue suppressing small amd medium-sized business", - he said.
Minasyan thinks that for keeping inflation it is necessary to start the predictable price formation for the good of strategical necessity. He said that the system of the futures contracts may become a serious factor not only in keeping t5he progressing inflation but also in de-monopolization of the Armenian economy. He said the futures contracts at the fuel importing market will promote raising of transparency of the price formation and keeping of the price growth.
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