Wednesday, February 19 2020 16:23
Alexandr Avanesov

Economist: Armenia is not ready for serious investments today 

Economist: Armenia is not ready for serious investments today 

ArmInfo. Armenia is not ready for serious investments today. Bagrat Asatryan, an economist and former chairman of the Central Bank of Armenia, said this at a  press conference in Yerevan on February 19.   Referring to the indicators of economic activity in 2019 and the  challenges of 2020, he noted that the growth in investment over the  past decade was mainly due to specific events and specific  transactions. Meanwhile, there are still no institutional mechanisms  to solve the existing problem. "From an institutional point of view,  Armenia is not ready for investments, but we should not wait for the  results of this or next year," he said, not excluding the possibility  of 1-2 deals, which, however, will not solve the problems.   The economist emphasized that the authorities should do something in  this direction, specific solutions are needed, including using  budgetary funds that could be directed to the development of specific  programs and their presentation to the international community. In  this case, according to Asatryan, a positive trend can be expected,  but you should not expect qualitative changes in a short period of  time.  According to Bagrat Asatryan, when applying specific steps  that are able to regulate the field, the results can be expected in  short term. "Develop the judicial system, and I promise you that the  investment flow will increase qualitatively, and interest rates in  the banking system will decrease significantly. The issue of property  rights, the law on property declarations are insufficient to solve  this problem, it is necessary to find solutions that would become  reality, not a promise, especially given the current situation, "said   the economist.  Touching upon Amulsar issue, the economist noted  that this, of course, could have a negative impact on the investment  environment. "There are certain dangers, such problems must be  resolved quickly. They should not be put off, the authorities should  be decisive. Each day of delay endanger the republic, "Bagrat  Asatryan said.

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200 million

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Yield at cut-off price

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Maximum yield

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