In the conversation with Aravot.am, political scientist Gagik Hambaryan, referring to the assessments made by the President of Armenia at the VHD Union Board session regarding the economy, expressed the opinion that the development of our economy is more hampered by subjective reasons. “I’m not an economist, I do not want to turn to the numbers voiced by the President, but being an ordinary citizen of the Republic of Armenia, I must say that our economic problems today are more subjective in nature than objective. Just the fact that we have oligarchic, and monopolistic economy in Armenia, it is enough for the level of our economic development be quite low. Secondly, it is very strange that the leadership of our country does not refer to the shameful situation existing in the banking system, when in not any normal country of the world, developed or developing, there is no 18-24 percent annual interest rate. I ask you, where do you take these figures from? The authorities in Europe, Russia and in majority of the former Republics of the Soviet Union, or the businessmen sponsored by thereof take money from European largest banks at 0.8 to 2 percent annual interest and give it to banks at 5-6 percent. The banks give the money to citizens at 2 times more, i.e., 10-14 percent. The situation in the Republic of Armenia is completely different, the banks receive up to 10 percent and give out to the population at 18-24 percent annual interest. It goes without saying that 60-70 percent of the people should not be able to pay these loans. As a result, they lose their property placed as a collateral to the bank, which we see now. It also brings out the fact that most of the money does not serve the goal of economic development. There is such a thing. It would be good for the President of the Armenia to pay attention to the banking sector and monopolies,” says the political scientist. According to him, it is just a shame that one of the world famous French “Carrefour” hypermarket chain is not allowed to open a store in Armenia. “There is no even “McDonalds” in the Republic of Armenia. It is really a shame. And do you know why it is a shame? These are global brands, the activities of which in the Republic of Armenia can be an incentive for other investors to make their investments in our country, too. I am certainly not saying that our fast food industry is on a very low level. No, it is in very good condition, but let this “McDonalds” also be, why not? Why should “Pepsi” be, why should “Coca-Cola” be, but not “McDonalds”. Or, they do everything for Carrefour to abandon the idea of opining its chain of stores in the Republic of Armenia, it would be just a shame for our country. You see, even the Ambassador of France to Armenia interferes in this issue, as I see from the side, the Ambassadors of other countries to Armenia are getting involved in the matter. It’s a shame, isn’t it? To open a store, we allow the issue be settled at the level of European ambassadors. Is it something new?” says Gagik Hambaryan.
Nune AREVSHATYAN
