EXPERT: ARMENIA SHOULD CHART NEW COURSE
ARKA
MArch 15, 2010
YEREVAN, March 15. /ARKA/. Armenia is in need of a new economic policy,
Vazgen Safaryan, the chairman of Association of Domestic Manufacturers
and the head of Public Council’s financial, economic and budget
commission, said Monday in Novosti International Press Center.
"U.S. President Franklin Roosevelt adopted a new policy in 1933, after
the crisis, and time has come to us to chart a new course," he said.
Safaryan thinks that export area needs substantial reformation.
He thinks Armenian government pays insufficient attention to domestic
products, since after declaring its independence the country started
heading the road of free market economy, which is based on ten
recommendations of. Washington Consensus
One of these recommendations warns against spurring and regulating
industry.
"None of our prime ministers succeeding each other has made any
correction to industrial policy," Safaryan said.
Washington Consensus is a kind of the microeconomic policy recommended
by some economists to those countries facing financial and economic
crises.
Safaryan also said that things have already started changing.
He pointed out that Armenian government approved an industry recovery
concept in January.
"This gives us ground for hope that progress is possible in this area."
In its concept, the government singled out creation of favorable
environment as one of its top-priority objectives.
This environment will enable Armenia to develop into industry-oriented
country. Under the concept, the country will increasingly be building
up the share of industry in its GDP from year to year.
The government also put special emphasis on development of
export-oriented industry. Speaking about the new economic policy,
the expert said that it should be focused on industry.
He added that the government should also include tax administration
improvement, shady dealing reduction and the problem of foreign debt
ratio to GDP to its industry policy strategy "to transform Armenia
from a soviet-era consumer country into a manufacturer country".