Tuesday, September 20 2016 18:41

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.