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Economist: Armenia has lost its investment attractiveness

  • by Ashot Safaryan

  • Saturday, March 1, 15:21

Armenia has lost its competitiveness and investment attractiveness. This is proved by the declining investments in the country's economy over the past few years, economist Vahagn Khachatryan, member of the opposition Armenian National Congress, said at today's rally in Liberty Square in Yerevan.   

"Due to the authorities' policy, the small and medium-sized businesses literally feel short of breath. The authorities are only dreaming to rob their own citizens and kill the last sprouts of SMEs", said Khachatryan. 

Khachatryan recalled the authorities' latest initiatives that have deteriorated the hard socio-economic situation of the citizens. These initiatives include the rise in gas and electric power tariffs, compulsory accumulative pension system, paid parking lots in Yerevan's streets, car insurance fraud, as well as the speed recorders and the legalized robbery on the roads.      

"The robbed funds are being taken abroad. Over the past 2 years the capital outflow totaled 5 bln drams, according to the WB's data", he said.

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