Vahagn Khachatrian: Government unable to run economy

“In the current situation, Armenia is unable to attract investments. Any prospect of economic development is under threat,” the member of the Armenian National Congress (HAK) Party, economist Vahagn Khachatrian told reporters today.

According to him, direct investments declined by 64% in the last nine months. The 2014 budget shows that the government is unable to run the economy, while its steps only worsen the situation, V. Khachatrian said.

“$2 billion end up each year in the pockets of the authorities and businessmen close to them,” Vahagan Khachatrian noted.

“The tax base is being increased at the expense of small and medium businesses. The government currently plans to raise taxes at their expense again, which may ruin small and medium businesses,” Vahagn Khachatrian said.