Economy minister comments on Robert Kocharian’s criticism

Following the government session today, Armenian Minister of Economy Vahram Avanesian commented on the criticism that second Armenian President Robert Kocharian expressed in his recent interview.

Noting that criticism is a normal thing, Avanesian said: “I should examine separately many of the problems he raised. It is difficult to assess them at once”. In the minister’s opinion, in any country, it is impossible to ensure a 25% growth in construction sector in the medium or long term.

Avanesian said that mortgage credits in Armenia cannot have a considerable impact on construction – ‘ the interest rates hinder the development of the mortgage market in the country”.

According to the minister, the reforms implemented in the 1990s should also be taken into account when assessing 12% economic growth: many reforms have since thenproduced results, while others were unsuccessful and created problems.

When asked if Kocharian’s recent activity is a sign of his comeback, Vahram Avanesian replied: “I cannot answer such questions. I don’t know”.