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It is necessary to change the economic model of the state

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It is necessary to change the economic model of the state, Prime Minister Nikol  Pashinyan announced on August 17 at a rally dedicated to 100 days of work of the new government.  

According to him, the current corrupt economic model of the economy should give way to an innovative economy. At the same time, everyone in the market will have equal rights. "Today there are already no monopolies in Armenia in the import of bananas and sugar, all citizens of the country engaged in business, will receive assistance from the state," the Prime Minister said.

He added that usually after the revolutions the states face economic decline, however in Armenia, according to official data, growth has been registered. In June alone, the country's GDP growth was 9.6%,  and since the beginning of the year - 8.9%, and there is every reason to say that growth will continue until the end of the year.

As a result of the new policy, a positive balance between those arriving and departing was registered, which from May 10 to August 14  was 29,886 people. And this, according to Pashinyan, is evidence of the first signs of overcoming the migration crisis. Over the past three months, the number of foreign visitors has increased by 34,000  people, which is a vivid manifestation of state policy in the field of tourism and investments. Many foreign compatriots began to acquire real estate in the historical homeland, as a result of which the prices for it increased by 20%. As for today, the Prime Minister continued, the volume of raised funds exceeds the volume of the exported capital by 11 billion drams.

In commercial banks of the country, 116 billion drams have been accumulated in the form of deposits of individuals and legal entities, which is also evidence of citizens' confidence in the economic policies of the current authorities. Over the past three months alone, the credit portfolio of commercial banks in the country grew by 99 billion drams.

As a result of active work, it was possible to increase the revenue part of the state budget by 28.8 billion drams and to reduce the amount of overpayment by 26 billion drams.

Pashinyan stressed that in the near future the number of ministries and departments will be reduced, the work of the executive body will become more efficient and transparent.


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