BAGRATYAN IS READY TO GIVE A LESSON

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16:05:09 – 24/02/2010

TO NERSES YERITSYAN

The Armenian former Prime Minister Hrant Bagratyan, commenting on
the growth of 2 percent predicted by the government, says that it is
a very small number in comparison to the decrease of 22 percent.

"Azerbaijan registered 9, 5 percent of GDP increase, Ukraine and
Moldova registered an increase too. The Minister of Economy had
better come to this press conference, I would explain him several
things for him to learn something", says Bagratyan.

The government argues that retail sales rose by 1%, services – by
1, 3%. What we used in 2009, compared to 2008 is more by 1%. What
is included in the mass consumption of goods and services? It is
produced GDP, imports minus exports. 70% of the whole of GDP, 25% –
import, 5% – exported. GDP declined by 14%, imports – by 25, export –
by 34%. In these figures one cannot get 1% growth", said Bagratyan.

According to him, the statement of Nerses Yeritsyan that Armenia was
in the same situation in the early 90’s is absolute nonsense. "That
was not a global but a local crisis. Despite the war and blockade,
our results were higher than in 6 countries of the CIS. Armenia now
occupies the last horizontal line in the list of CIS. Macroeconomic
indicators in Armenia are two times lower than in Azerbaijan.

Government is trying to stop inflation, but he cannot keep the
stagflation. I think by May, the dollar will reach 450 drams. Although
the government is borrowing to keep the dram, but AMD has devalued",
said Bagratyan.