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.”
