Tweet
GAGIK MAKARYAN: AZERBAIJAN'S ECONOMY IS BASED ON ONE COMPONENT
Nvard Davtyan
"Radiolur"
03.02.2012 18:04
"War will destroy Azerbaijani economy, as it is based on one component
- oil industry," Gagik Makaryan, President of the Republican Union
of Employers of Armenia said, presenting the report on the analysis
of the economies of the three South Caucasian countries - Armenia,
Georgia and Azerbaijan.
The Union has used the data of the statistical services of the three
countries, the World Bank, thee International Monetary Fund and has
combined them with independent analyses.
Azerbaijan's economy is based on one component - oil industry.
According to the report, the volume of oil production in Azerbaijan
decreased with 11.6% in 2011, the downfall tends to continue this
year. Based on the results of the study, Gagik Makaryan concludes
that if no new mines are exploited, the volume of oil production
will decrease thrice by 2024. This will cause a serious damage to the
economy, Azerbaijan will make less bellicose statements, as a result,
Gagik Makaryan said.
According to the report, Armenia's foreign debt is greater than that
of Azerbaijan and Georgia. Armenia falls behind as regards the level
of tax collection. Therefore, Armenia still has to implement a number
of reforms, he added.
According to Makaryan, it's necessary to improve the business
atmosphere and pay attention to the labor market. Competitive labor
force can solve hard problems and boost production, and this is an
important condition for attracting investments. This is the effective
route of development of economy, President of the Republican Union
of Employers of Armenia said.
From: Baghdasarian
Nvard Davtyan
"Radiolur"
03.02.2012 18:04
"War will destroy Azerbaijani economy, as it is based on one component
- oil industry," Gagik Makaryan, President of the Republican Union
of Employers of Armenia said, presenting the report on the analysis
of the economies of the three South Caucasian countries - Armenia,
Georgia and Azerbaijan.
The Union has used the data of the statistical services of the three
countries, the World Bank, thee International Monetary Fund and has
combined them with independent analyses.
Azerbaijan's economy is based on one component - oil industry.
According to the report, the volume of oil production in Azerbaijan
decreased with 11.6% in 2011, the downfall tends to continue this
year. Based on the results of the study, Gagik Makaryan concludes
that if no new mines are exploited, the volume of oil production
will decrease thrice by 2024. This will cause a serious damage to the
economy, Azerbaijan will make less bellicose statements, as a result,
Gagik Makaryan said.
According to the report, Armenia's foreign debt is greater than that
of Azerbaijan and Georgia. Armenia falls behind as regards the level
of tax collection. Therefore, Armenia still has to implement a number
of reforms, he added.
According to Makaryan, it's necessary to improve the business
atmosphere and pay attention to the labor market. Competitive labor
force can solve hard problems and boost production, and this is an
important condition for attracting investments. This is the effective
route of development of economy, President of the Republican Union
of Employers of Armenia said.
From: Baghdasarian