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ECONOMIST EDUARD AGHAJANOV CONCERNED ABOUT DEINDUSTRIALIZATION OF
ARMENIA
YEREVAN, JANUARY 26, NOYAN TAPAN. "I think that Armenia's economic
indices, which, in my opinion, are absolute absurdity should be
registered in the Guinness Book of World Records." Expert-economist
Eduard Aghajanov stated this at the January 26 press conference. In his
words, the data on 13.5% GDP growth and 45% foreign trade deficit
growth in 2006 is absurd too. E. Aghajanov said that in essence this
data reflects not a growth in economic development but the reverse. The
fact that so far neither the country's president not prime minister
have expressed their concern at these indices is a result of
non-professionalism and carelessness of officials, who, according to E.
Aghajanov, are unable to analyze this data and assess correctly the
current complex situation in the Armenian economy. The expert also
expressed his concern in connection with fact that each year the share
of industry is declining in the country's GDP structure, whereas the
share of construction and agriculture is increasing. Thus, formerly
indutrial Armenia has turned into a construction-agrarian one. As for
economic forecasts for this year, E. Aghajanov noted that unfortunately
further deindustrialization of the country will continue, the growth of
imports in comparison with exports causes no optimism, etc.
ARMENIA
YEREVAN, JANUARY 26, NOYAN TAPAN. "I think that Armenia's economic
indices, which, in my opinion, are absolute absurdity should be
registered in the Guinness Book of World Records." Expert-economist
Eduard Aghajanov stated this at the January 26 press conference. In his
words, the data on 13.5% GDP growth and 45% foreign trade deficit
growth in 2006 is absurd too. E. Aghajanov said that in essence this
data reflects not a growth in economic development but the reverse. The
fact that so far neither the country's president not prime minister
have expressed their concern at these indices is a result of
non-professionalism and carelessness of officials, who, according to E.
Aghajanov, are unable to analyze this data and assess correctly the
current complex situation in the Armenian economy. The expert also
expressed his concern in connection with fact that each year the share
of industry is declining in the country's GDP structure, whereas the
share of construction and agriculture is increasing. Thus, formerly
indutrial Armenia has turned into a construction-agrarian one. As for
economic forecasts for this year, E. Aghajanov noted that unfortunately
further deindustrialization of the country will continue, the growth of
imports in comparison with exports causes no optimism, etc.