Monday, September 23 2019 18:11
Alina Hovhannisyan

Expert: There is no economic development in Armenia, we are dealing  with the recovery growth of economy

Expert: There is no economic development in Armenia, we are dealing  with the recovery growth of economy

ArmInfo. There is no  economic development and human capital development in Armenia, we are  dealing with the recovery growth of the economy, economist, head of  the Alternative Research Center, Doctor of Economics, Professor Tatul  Manaseryan expressed this opinion answering a question from ArmInfo  correspondent on September 23 .

"Let's understand that economic growth does not mean economic  development. Since the latter provides for growing and competitive  sectors of the economy that are in demand, both in the domestic and  foreign markets, which are drivers and balance the economy forward.  While our economy is developing, but social issues are not being  resolved, discontent always remains. Today we are dealing with a sick  economy, we are recovering. To understand this, you do not need to be  an economist'', he said.

In this regard, Manaseryan noted that the government should pay  attention to non-traditional sectors of the economy, in particular  health care and scientific activity, and not constantly talk to  Russians, Americans and Europeans about Armenian apricot and drinks.  "The state should start working on marketing the healthcare sector,  in particular dentistry, heart, eyes surgery services, for which  foreign citizens come from abroad to Armenia. I even can not remember  services in this industry, in which we are not registering progress",  the economist noted. In this context, Manaseryan emphasized that  Armenia could very well become a health center in the region, at  least for certain types of services.

In addition, the economist complained about the current situation in  the IT sector, which is a priority, and therefore, tax incentives  were granted to enterprises operating in this sector from the  government. "This is certainly very good. But let's see who serves  domestic IT? We have good specialists who work in the international  market. What percentage works for the development of any economic  sector in Armenia? I don't know. Perhaps there are some cases. We  will not be able to see significant progress until this branch is  integrated into the country's economy'', he said.

Regarding the forecast for 2019, Professor Manaseryan noted that we  can maintain the existing level of economic growth, which is,  according to him, shameful. As an example, the economist cited the  situation in the Republic of Artsakh, which provides double-digit  indicators of economic growth, with modest capabilities, production  and financial resources. "We need to learn from the Artsakh people.  We do not use that colossal, crazy potential. And this is not about  the professional potential of the Diaspora. I'm talking about what we  have today'', he stressed.

To note, according to the Statistical Committee, in the first half of  2019, GDP amounted to 2.7 trillion drams or $ 5.6 billion (against  2.5 trillion drams or $ 5.1 billion a year earlier). According to the  World Bank forecast, the GDP growth of Armenia in 2019 will amount to  4.2%, with an acceleration in 2020 to 4.9%. In terms of Armenia's  foreign trade, the World Bank predicts growth for 2019, with exports  accelerating to 8.8%, and imports slowing to 12.2%. According to the  IMF forecast, the GDP growth of Armenia in 2019 will amount to 4.6%  with a slowdown in 2020 to 4.5%. The Central Bank of Armenia  predicted for 2019 GDP growth in the range of 5.9-7.4%, while at the  same time expecting in 2019 the growth of imports by 2-4% and exports  by 4-6%. The state budget of the Republic of Armenia for 2019  contains a growth of GDP of 4.9%.

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