Armenian political party: Authorities' internal policy fraught with social shocks

Over the last 2 years, current authorities in Armenia took no effort to resolve economic problems. Moreover, they’re trying to blame the unprecedented economic slump (14,4 percent) on global crisis, according to the Democratic Party of Armenia (DPA).

Professional statistics estimates shadow economy share in Armenia at 40 percent, yet factual analysis proves it to be 70 percent.

Though in possession of vast resources for state budget replenishment, the authorities set their hopes on foreign credits only.

Yet, 30-percent reduction in shadow economy could release Armenia from 1/3 of foreign debt, DPA said.

“With economic slump of another 5 percent, Armenia will be perceived as unreliable partner,” DPA experts believe, warning that "Armenian authorities’ internal policy is fraught with social shocks."

/PanARMENIAN.Net/