ArmInfo. Deputy Prime Minister, Minister of International Economic Integration and Reforms Vache Gabrielyan, who will continue to hold the position, considers that the current economic model in Armenia has run its course and can not ensure further development of the country. He expressed this opinion to journalists on September 20 commenting on the statement made by Prime Minister of Armenia Karen Karapetyan that the country's economy is in critical condition.
According to Gabrielyan stating the fact that the country's economy is in complex situation does not mean yet that it had not developed at all. The Minister explained that possibly the matter concerned the fact that the previous resource has reached its limits and new approaches are needed in the economy. In Gabrielyan's opinion the Prime Minister did not mean that there was no economic growth, and that the statistical data do not correspond to reality. "New model of economic development is needed, which the Prime Minister will present in near future", Gabrielyan stated.
To note, Armenia's Prime Minister Karen Karapetyan stated on September 14 in the parliament answering to journalists' questions that the real condition of the Armenian economy is extremely critical. "I am very concerned over our economic situation", the Prime Minister stated.
