3.1% growth in Armenia’s economy

3.1% growth in Armenia’s economy

Vazgen Safaryan, an Armenian economist , commenting on the official statistics saying that the reported 3.1% growth in Armenia’s economy is due to foreign loans attracted in the last six months of 2015.

“It is thanks to foreign loans that we managed to implement a social project, which in turn boosted a trade turnover and economic activity. Also, we had a growth in industry, which too, will help register a growth,” Vazgen Safaryan told Tert.am

“We now have to elaborate large-scale projects to develop the industries and the economy.

We need to develop the industries to increase our gross domestic product.

This is the only way out of this situation threatening hazards,” he said, commenting on the government efforts to make the economy active at the expense of foreign loans.

Safaryan said he doesn’t absolutely approve of such a policy.

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