{"id":270247,"date":"2015-12-22T17:50:27","date_gmt":"2015-12-22T13:50:27","guid":{"rendered":"http:\/\/www.epress.am\/?p=270247"},"modified":"2015-12-22T17:50:27","modified_gmt":"2015-12-22T13:50:27","slug":"economists-predict-no-growth-in-armenias-economy-in-2016","status":"publish","type":"post","link":"https:\/\/epress.am\/en\/2015\/12\/22\/economists-predict-no-growth-in-armenias-economy-in-2016.html","title":{"rendered":"Economists Predict No Growth in Armenia&#8217;s Economy in 2016"},"content":{"rendered":"<p>\n\t<span style=\"line-height: 1.6em;\">The economy of Armenia has no prospects for growth in 2016, economist Vahagn Khachatryan said in a press conference Tuesday, December 22. The issue, he noted, is not as much economic as political, since Armenia&#39;s authorities should show the political will to create an equally favourable \u0561\u0576\u0564 competitive environment for everyone.<\/span>\n<\/p>\n<p>\n\t&nbsp;&ldquo;Current [Armenian] authorities need a society that would not fight, where all would obey and no one would be concerned with politics or economy,&rdquo; Khachatryan said.\n<\/p>\n<p>\n\tVilen Khachatryan, another of discussion participants, stated that the economy of Armenia had been gradually regressing. &nbsp;Most recent statistics data, he added, have shown that as of November, 2015, Armenia&#39;s international reserves have decreased by USD 1 billion 550 million from USD 1 billion 700 million.&nbsp;\n<\/p>\n<p>\n\tThis &ldquo;difficult economic situation,&rdquo; as stated by Vilen Khachatryan, is caused first of all by the inadequate effectiveness of the country&#39;s banking system which does little to promote economic growth: &ldquo;Banks finance the economy with high interest rates. No business can survive with these rates.&rdquo;\n<\/p>\n<p>\n\tHe added that Armenia has to reduce its economic dependence on the outside world: &ldquo;How can you sit and wait for others to send you money to improve your economy? Economic growth should not be based on remittances.&rdquo;\n<\/p>\n<p>\n\tCommenting on Armenia&#39;s membership into the Eurasian Economic Union (EEU), the economist reminded that EEU had promised to ensure economic growth in Armenia; as a result, however, Armenia has been ensuring growth for Russia: &ldquo;Armenia has reduced export levels to Russia: exports fell from 20% to 10%, while imports from Russia have risen to 30%.&rdquo;\n<\/p>\n<p>\n\tArmenia&#39;s state debt, the economists stressed, has also been trending upwards, while the numerous international loans do not lead to a noticeable economic growth.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Vilen Khachatryan, another of discussion participants, stated that the economy of Armenia had been gradually regressing.  Most recent statistics data, he added, have shown that as of November, 2015,..<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":255088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"tstyn_error":""},"categories":[10],"tags":[18358,10708,13480,58994],"_links":{"self":[{"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/posts\/270247"}],"collection":[{"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/comments?post=270247"}],"version-history":[{"count":0,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/posts\/270247\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/media\/255088"}],"wp:attachment":[{"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/media?parent=270247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/categories?post=270247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/epress.am\/en\/wp-json\/wp\/v2\/tags?post=270247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}