DPA: RA AUTHORITIES’ INTERNAL POLICY FRAUGHT WITH SOCIAL SHOCKS

PanARMENIAN.Net
23.02.2010 17:41 GMT+04:00

/PanARMENIAN.Net/ 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%) on global crisis,
according to republican council of Democratic Party of Armenia (DPA).

Professional statistics estimates shadow economy share in Armenia at
40%, yet factual analysis proves it to be 70%. Though in possession
of vast resources for state budget replenishment, the authorities
set their hopes on foreign credits only. Yet, 30% reduction in shadow
economy could release Armenia from 1/3 of foreign debt, DPA republican
council said.

"With economic slump of another 5%, Armenia will be perceived as
unreliable partner," DPA experts believe, warning: "RA authorities’
internal policy is fraught with social shocks."