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Armenia leaves itself without money

28 March 2019 [17:13] - TODAY.AZ

By Azernews


By Abdul Kerimkhanov

Some Armenian officials making frivolous economic decisions aggravate the already degrading economy of Armenia.

Armenian Minister of Transport, Communications and Information Technologies Hakob Arshakyan vetoed a major investment project, according to Armenian media.

Entrepreneur Arthur Yerznkyan, who lives in Russia, planned to invest $ 200 million in the telecommunications sector of Armenia. The entrepreneur's plans included the creation of a new mobile operator (currently there are three in total).

Moreover, the entrepreneur was ready to make a commitment to make communication very affordable for subscribers, and almost free for residents of border areas.

However, according to media, Minister Arshakyan did not give permission for the project, stating that it would interfere with the existing three operators and would be unprofitable for the investor himself.

"That is why Armenia remains the last in the region in terms of investment and for this indicator, it is significantly inferior to Azerbaijan and Georgia," reports Armenian media.

The fact that in Armenia the level of corruption exceeds the limit is a well-known fact, and this is one of the key reasons for the extremely depressing socio-economic situation in the country, said independent economist Sergei Volodin.

The expert noted that as long as there are government officials like Hakob Arshakyan in the Armenian government, the country will continue to be in a deplorable state in the coming decades.

"Ever since the Sargsyan regime, corruption has been an integral part of the socio-economic life in Armenia, and with the advent of the new government, nothing has changed. Therefore, it is meaningless to talk about some kind of well-being in a country where the main corrupt officials rule the state. The situation is quite satisfactory, as he gathered around himself corrupt officials, so it’s not surprising that Arshakyan was allowed to veto a major investment project, which shakes up Armenian media," said Volodin.

According to expert estimates, it is not at all surprising that Armenia occupies the last place in the region in terms of investment and is significantly lower than Azerbaijan and Georgia in this indicator.

“This fact indicates that the society has an understanding that under the current government, it will be difficult for Armenia to get out of the socio-economic crisis,” Volodin said.

The expert concluded that at such a pace Pashinyan and his entourage will soon lead the Armenian economy to a dead end.

URL: http://www.today.az/news/regions/180714.html

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