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Ensuring inclusive economic growth will be key element of economic policy of new Armenian government

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21.07.2018
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The key element in the economic policy of the new Armenian government is inclusive economic growth aimed at improving the well-being of the entire population,  Prime Minister of Armenia Nikol Pashinyan stated today.

According to him, before the "revolution" the economic results of a  particular sector had a limited level of accessibility for society,  and not all segments of the population benefited from it.  According to the Prime Minister, in general, the structure of economic growth should be revised. "When considering" pre-revolutionary growth, " it becomes obvious that the fixed 7% GDP growth was manipulative and was caused by high copper prices in the international market, and as soon as the prices were falling, our growth rates were declining,"  Pashinyan explained.

At the same time, as the Prime Minister pointed out, the revision of the main accents of economic policy does not mean that those people who worked or conducted business in this or that sector must yield their seat to new ones. It just means involving new groups of population in the process and inclusiveness of the whole policy.  In overall, according to the head of government, by setting the basic guidelines, the government will not interfere in the processes in the market. From time to time, the executive power will only monitor the progress of the work and, if necessary, introduce new elements and tools of assistance. The fight against corruption and the creation of an independent judiciary will become one of the pillars of the new economic policy. "We will be consistent in implementing this policy,  which will be set at the legislative level, including in the Tax  Code, which will ensure the protection of interests of small and medium-sized businesses," concluded Pashinyan.

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