HARD FINANCIAL-ECONOMIC SITUATION IN ARMENIA HAD GOT WORSE BEFORE WORLD CRISIS, FORMER RA CBA CHAIRMAN CONSIDERS
Noyan Tapan
Dec 16, 2008
YEREVAN, DECEMBER 16, NOYAN TAPAN. "The 2008 economic year started
very badly in Armenia: the event undertaken by the authorities by
the name "elections" damaged country’s economy," Bagrat Asatrian, the
former Chairman of the Central Bank of Armenia (CBA), stated at the
December 16 press conference. According to his evaluation, Armenia’s
economic growth rates decreased from the very beginning of the year, an
unprecedented inflation was recorded, the year started with a reserve
loss amounting to 50m USD, which was an exclusive index. In fact,
as B. Asatrian concluded, the financial-economic condition had got
worse in Armenia before the world crisis. According to him, in that
period the authorities deceived themselves and did not wish to see the
existing problems. Besides, according to B. Asatrian, the 2009 state
budget was not brought in line with the threats of the world economic
crisis to mitigate their consequences even if a little in Armenia.
The other participant of the dispute, National Assembly Bargavach
Hayastan (Prosperous Armenia) faction member Vardan Bostanjian said
that B. Asatrian’s speech has a political shade of meaning. Touching
upon the evaluations voiced by his opponent, he said that it
is impossible to constantly preserve the rate of high economic
growth. As to the budget, according to V. Bostanjian’s evaluation,
"it is a complicated document made up as a result of the joint work
of the executive and legislative powers."
Opposing to V. Bostanjian, B. Asatrian stated that he is not opposing
to his country. "Those opposing were the organizers of the slaughter
in Yerevan streets on March 1, they are today’s deputies, who have
become deputies by violating the law," he said. B. Asatrian also said
that he has information that even for solving economic problems the
authorities intimidate people. He gave an example that to regulate
the dram exchange rate "from above" they called and warned exchange
points workers that unless they obey the orders, the 6th department
will solve that problem.