Armenian economy 'must rely on developed sectors' to secure future progress - opinion
The domestic economy needs to rely on its relatively accomplished and developed sectors to pave way to a future progress, Karen Adonts, a Yerevan-based economist, said today, stressing the importance of policy revisions.
"We have several sectors today, such as agriculture, reprocessing industries and copper concentrate manufacturing, whose main market is Russia. Our policies have to first of all focus on expanding the branch structure to make the economy more competitive and prospective. Additionally, we need to expand the geography of markets to increase the economy's functionality also on other markets. The main policies have to deal with market enlargement, but to do that we need appropriate policies to boost investments," he said in an interview with Tert.am.
The economist did not attribute the shortage of investments (reflected in the official reports by the Statistical Committee) to the low investment profitability in the manufacturing sector.
"Manufacturing is not profitable in Armenia because we import the raw, pay a value-added tax - plus a customs duty - and then, additionally, face technology-related problems. That is to say, the zero investments in the manufacturing sector are due to the fact that there are practically no conditions. The state does not conceive of the profitability in separate branches of the economy to be able to later pursue the right tax and credit policies. Or what is the advantage of imports over our domestic product? Once we spot the weak sides, we will neutralize the weak competition line which our manufacturers are having today. But because we never handle such tasks, we do not attract investments in our economy," he added.
According to the expert, the state at times attracts foreign credits to boost the development sector in an effort to promote an "artificial economic growth".
"As I look upon the authorities' steps towards developing the economy, I do not see a real step in essence. The state must have a concept of its own and a program as to how to develop the economy. But I do not see anything of the kind for now," the economist said.
Videos

Interview with Francis Malige, EBRD Managing Director

Armenians Commemorating 106th Anniversary of Genocide

Biden Under Pressure to Recognize Armenian Genocide - KTLA 5 News

Governance and Oversight Capacities Account for Our Bank's Robust Management System - Philip Lynch, Independent Board Member at Ameriabank

'Mr. President, It Is Now in Your Power to Right Decades of Denial' - US Congressman Adam Schiff Urges Joe Biden to Recognize Armenian Genocide

Armenians of Nagorno-Karabakh in Despair After Trauma of Military Defeat - France 24

Interview with Kakhaber Kiknavelidze, an Independent Member of Ameriabank Board of Directors

Only Terrorists Keep Hostages, Putting Forward Preconditions for Their Release - Edmon Marukyan

Rep Adam Schiff Says Congress Should Recognize Artsakh

UN's Guterres Issues Global Appeal to Make 2021 'Year of Healing'

NASA's Mars 2020 Perseverance Rover Landing Animations

Azerbaijan Uses Prohibited Phosphorus Chemical Munitions - Defense Army Video

Artsakh Defense Army Units Neutralizing Azerbaijani Arms Supplies

Artsakh Defense Army Units Neutralizing Azerbaijani Drone

Nagorno-Karabakh's Status Has Been At the Heart of Our Approach - Zohrab Mnatsakanyan

Artsakh Defense Army Releases Video Featuring Damaged Azerbaijani Military Equipment

Artsakh Defense Army Units Inflicting Manpower Losses on Azerbaijan

Gas Pipeline Damaged in Azerbaijani Fire Targeting Nagorno-Karabakh's Capital

President Armen Sarkissian Meets Emmanuel Macron at Élysée Palace

Artsakh Defense Army Neutralizes Azerbaijani Military Hardware

Artsakh Defense Army Units Neutralizing Azerbaijani Military Infrastructures

President Armen Sarkissian Meets with NATO Secretary-General in Brussels

Buildings and Homes Lying in Ruins in Nagorno-Karabakh's Capital After Azerbaijani Shelling

Artsakh Defense Army's Precision Fire Gives Deadly Blow to Enemy

Artsakh Defense Army Units Destroying Azerbaijani Tank

Zohrab Mnatsakanyan: Ceasefire Does not Mandate Azerbaijan to Kill Civilians and Hit Civilian Settlements

Armenians Protest Outside Turkrish Embassy in Los Angeles

Losses in Azerbaijan's Military Featured in Defense Army Footage

Artsakh Defense Army Neutralizing Adversary's Transport Column

Turkey openly backs Azerbaijan 'far more aggressively than in the past' - ABC News on Syrian mercenaries fighting in Karabakh

Iconic Armenian Church Hit in Azerbaijani Attacks in Nagorno-Karabakh City (photos)

Artsakh Defense Army Continues High-Precision Strikes

War Situation in Karabakh on European Parliament's Agenda

Call for Urgent Action: Armenian Journalist Brings Intn'l Colleagues' Attention to Situation iin Artsakh After Azerbaijani Attacks

Turkey's Support to Syrian Mercenaries Fighting Against Artsakh: Facts About Azerbaijani Aggression

Nagorno-Karabakh's Capital Under Azerbaijani Strikes

Armenian Armed Forces Neutralize Azerbaijani Defense Positions

ArmenianTroops Destroy Azerbaijani Armored Fighting Vehicle on Frontline

There is a solid evidence that Azerbaijan has launched a thoroughly planned attack on the NKR

EU calls for Immediate End to Hostilities over Nagorno-Karabakh
-
15:20 • 24.05.21 Interview with Francis Malige, EBRD Managing Director
-
11:39 • 24.04.21 Armenians Commemorating 106th Anniversary of Genocide
-
09:40 • 23.04.21 Biden Under Pressure to Recognize Armenian Genocide - KTLA 5 News
-
15:34 • 22.04.21 Governance and Oversight Capacities Account for Our Bank's Robust Management System - Philip Lynch, Independent Board Member at Ameriabank
-
14:09 • 21.04.21 'Mr. President, It Is Now in Your Power to Right Decades of Denial' - US Congressman Adam Schiff Urges Joe Biden to Recognize Armenian Genocide
-
12:37 • 03.04.21 Armenians of Nagorno-Karabakh in Despair After Trauma of Military Defeat - France 24
-
17:33 • 11.03.21 Interview with Kakhaber Kiknavelidze, an Independent Member of Ameriabank Board of Directors
-
17:57 • 26.01.21 Only Terrorists Keep Hostages, Putting Forward Preconditions for Their Release - Edmon Marukyan
-
13:33 • 22.01.21 Rep Adam Schiff Says Congress Should Recognize Artsakh
-
09:42 • 29.12.20 UN's Guterres Issues Global Appeal to Make 2021 'Year of Healing'
-
18:41 • 24.12.20 NASA's Mars 2020 Perseverance Rover Landing Animations
-
13:33 • 31.10.20 Azerbaijan Uses Prohibited Phosphorus Chemical Munitions - Defense Army Video
-
16:37 • 30.10.20 Artsakh Defense Army Units Neutralizing Azerbaijani Arms Supplies
-
11:25 • 28.10.20 Artsakh Defense Army Units Neutralizing Azerbaijani Drone
-
13:45 • 24.10.20 Nagorno-Karabakh's Status Has Been At the Heart of Our Approach - Zohrab Mnatsakanyan
-
11:51 • 24.10.20 Artsakh Defense Army Releases Video Featuring Damaged Azerbaijani Military Equipment
-
11:40 • 24.10.20 Artsakh Defense Army Units Inflicting Manpower Losses on Azerbaijan
-
10:39 • 24.10.20 Gas Pipeline Damaged in Azerbaijani Fire Targeting Nagorno-Karabakh's Capital
-
12:41 • 23.10.20 President Armen Sarkissian Meets Emmanuel Macron at Élysée Palace
-
12:16 • 23.10.20 Artsakh Defense Army Neutralizes Azerbaijani Military Hardware
-
12:02 • 22.10.20 Artsakh Defense Army Units Neutralizing Azerbaijani Military Infrastructures
-
10:35 • 22.10.20 President Armen Sarkissian Meets with NATO Secretary-General in Brussels
-
10:51 • 17.10.20 Buildings and Homes Lying in Ruins in Nagorno-Karabakh's Capital After Azerbaijani Shelling
-
15:09 • 15.10.20 Artsakh Defense Army's Precision Fire Gives Deadly Blow to Enemy
-
13:13 • 13.10.20 Artsakh Defense Army Units Destroying Azerbaijani Tank
-
12:56 • 12.10.20 Zohrab Mnatsakanyan: Ceasefire Does not Mandate Azerbaijan to Kill Civilians and Hit Civilian Settlements
-
12:23 • 12.10.20 Armenians Protest Outside Turkrish Embassy in Los Angeles
-
17:23 • 09.10.20 Losses in Azerbaijan's Military Featured in Defense Army Footage
-
15:53 • 09.10.20 Artsakh Defense Army Neutralizing Adversary's Transport Column
-
14:11 • 09.10.20 Turkey openly backs Azerbaijan 'far more aggressively than in the past' - ABC News on Syrian mercenaries fighting in Karabakh
-
15:52 • 08.10.20 Iconic Armenian Church Hit in Azerbaijani Attacks in Nagorno-Karabakh City (photos)
-
10:57 • 08.10.20 Artsakh Defense Army Continues High-Precision Strikes
-
14:24 • 07.10.20 War Situation in Karabakh on European Parliament's Agenda
-
19:31 • 05.10.20 Call for Urgent Action: Armenian Journalist Brings Intn'l Colleagues' Attention to Situation iin Artsakh After Azerbaijani Attacks
-
16:17 • 04.10.20 Turkey's Support to Syrian Mercenaries Fighting Against Artsakh: Facts About Azerbaijani Aggression
-
12:39 • 04.10.20 Nagorno-Karabakh's Capital Under Azerbaijani Strikes
-
13:49 • 03.10.20 Armenian Armed Forces Neutralize Azerbaijani Defense Positions
-
10:12 • 29.09.20 ArmenianTroops Destroy Azerbaijani Armored Fighting Vehicle on Frontline
-
23:42 • 28.09.20 There is a solid evidence that Azerbaijan has launched a thoroughly planned attack on the NKR
-
18:45 • 28.09.20 EU calls for Immediate End to Hostilities over Nagorno-Karabakh
Most popular articles Today Yesterday For a week
-
Event 17:04 • 08/02 Changes have been applied to the monthly fees of the Level Up prepaid tariff plans of the Ucom mobile services From March 2, 2023, all new and existing subscribers of Level Up prepaid tariff plans of Ucom’s mobile services will benefit from the latter with a changed monthly fee, preserving the access to the fu
-
Event 17:04 • 08/02 Changes have been applied to the monthly fees of the Level Up prepaid tariff plans of the Ucom mobile services From March 2, 2023, all new and existing subscribers of Level Up prepaid tariff plans of Ucom’s mobile services will benefit from the latter with a changed monthly fee, preserving the access to the fu
-
Event 18:31 • 06/02 Targeted support is in the spotlight of Viva-MTS Tendency to self-isolation, limited communication outside the family, and mental dependence from mother’s constant care… This is how 13-year-old Monica with cerebral palsy (CP) behaved before she got into the household support program.
-
Event 15:37 • 07/02 Ameriabank has provided business loans totaling over AMD 14 billion to the renewable energy sector In the past two years, Ameriabank has loaned over AMD 14 billion to the renewable energy sector During this time, 123 power plants that use renewable energy sources and meet the green loan criteria have received financi
-
Event 17:04 • 08/02 Changes have been applied to the monthly fees of the Level Up prepaid tariff plans of the Ucom mobile services From March 2, 2023, all new and existing subscribers of Level Up prepaid tariff plans of Ucom’s mobile services will benefit from the latter with a changed monthly fee, preserving the access to the fu
Economy
-
19:00 • 25.01.23 Switch to Electric Vehicle with Evoca
-
18:43 • 11.11.22 Galaxy Group Member TI’ME celebrated its 10 years of establishment
Event
-
18:31 • 06.02.23 Targeted support is in the spotlight of Viva-MTS
-
15:07 • 02.02.23 Converse Bank receives its second award this year
Science/tech
-
10:28 • 28.07.21 UN warns of large numbers of Earth-threatening asteroids
-
11:34 • 27.07.21 Jeff Bezos' $2bn offer to get back in race to the Moon
Sports
-
12:05 • 26.07.21 Teenage Japanese skateboarder named youngest champion ever
-
12:13 • 23.07.21 Olympics 2020: 12-year-old becomes Tokyo’s youngest champion