Armenia’s economic activity 'reflected only in figures' – senior parliamentarian
The 6.5% economic growth, which the Armenian authorities repeatedly cite as a positive dynamics in the country’s 2017 economic activity index, does not reflect the real growth in our gross domestic product (GDP), says Mikael Melkumyan, a vice speaker of the National Assembly (Tsarukyan Alliance).
According to him, the recorded slight progress is visible only against the backdrop of the weakened economy.
“We need to draw up an economic, and a social map to outline just a few institutions which actually attract the main financial resources - particularly Gazprom Armenia, Electric Networks of Armenia, [companies operating] in the telecommunications sector, also the mining industries and later several banks, six or seven insurance companies, major investors, as well as malls and hypermarkets to sum up the list. I enumerate what [we have on] the economic map as they circulate 80%-85% of the financial flows,” he told Tert.am.
Elaborating on the social map, Melkumyan highlighted the poverty rate (over 900,000 impoverished people, according to him), the 17.8 percent unemployment, the continuing emigration, and the extremely low minimal salary (AMD 550,000 or approx USD 95) and average salary (AMD 190,000 or approx USD 325) as major pressing problems. In his words, the economic and social maps are very loosely interrelated, with the end result of the former not being evenly distributed among the subjects on the latter, or among the small- and medium-sized enterprises (SMEs).
Addressing the problems in the social sector, Melkumyan especially emphasized the need of ensuring proper healthcare services and education for children of socially insecure families. He further expressed concerns over the investment policies.
“They [the authorities] promised investments worth $850 million, but I haven’t so far heard of any investor’s name apart from Amulsar [gold mining project], and a couple of entities [operating] in the light industry sector. I don’t know any addresses to understand how much investment has been made and in what places, and how many jobs have been created to date. And if [businessmen] make a major investment to later take the profit out of the country, I do not consider that an investment in the classical sense of the word, as an investment implies job-creation, and a certain salary rate. I do not see anything of the kind for now,” Melkumyan noted.
Commenting on his expectations for 2018, the lawmaker considered the proposed transition to the parliamentary government the major challenge of the year. According to him, the new model would rule out the general practice allowing the cabinet to propose legislation.
“After the government gives a negative conclusion to the laws submitted by the parliament, the political majority will no longer be ready to issue its positive conclusion in the sittings of its corresponding committees. But the Government never practically manages to bring quality laws [to parliament] in a timely manner and thus creates serious problems later,” he said, citing the recently proposed amendments to the Tax Code and other bills debated at special parliament sessions.
“An important thing for the lawmakers is to have the understanding that they must embark on real work instead of just sitting silent in parliament, allowing only some 10 people [to take part in the decision-making]. And the Government should have real the understanding that they are under the parliament’s everyday control,” Melkumyan added.
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