Economy must be decentralized, Bagratian says

Any act in economy today becomes a policy 10 years after, said former Armenian prime minister and oppositional Armenian National Congress’ member Hrant Bagratian.

He said believes Armenia is still at risk of cutback of economic activity, so the country needs new radical reforms while government doesn’t take any necessary steps.

According to politician, among not applicable activities in Armenia are, in particular, private lotteries, high prices for water despite Armenia’s huge water reserves. Besides, Armenian government uses expensive gas from Russia instead of supply from Iran, pointed Hrant Bagratian.

Armenia’s foreign dept, according to Hrant Bagratian, stands by 2009’s $74 million (in comparison with 2008’s $54 million) and will increase by $115 million in 2010, $129 million in 2011, $280 million – in 2012, and $470 million in 2013.

“I wonder, if Armenian president has been informed that double Army spending will be directed to foreign dept in three years,” asked Hrant Bagratian.

He also pointed that there never took place an economic integration between Armenia and Diaspora up to now. Economy must be decentralized to overcome this situation, he said.