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Vahagn Hovnanian: Armenia needs a hard-working and creative prime minister

  • by Marianna Mkrtchyan

  • Monday, April 7, 19:53

Armenia needs a hard-working and creative prime minister, Vahagn Hovnanian, American entrepreneur of Armenian origin, said at today's press conference in Yerevan when commenting on Prime Minister Tigran Sargsyan's resignation. 

He thinks that the biggest mistake of Sargsyan was to introduce the mandatory accumulative pension system.  He believes that the law on the mandatory accumulative pension system was not elaborated correctly. He said that the people are short of money and every penny counts, so it is wrong to deprive them of the means of livelihood.      

He added that the country is going round in circles and the people's patience is exhausted. Hovnanian pointed out that people are leaving the country due to unemployment. The interest rates in the banks are so high that people cannot take loans to launch their own business. He stressed that small and medium businesses are not encouraged in Armenia though the need to develop them exists. For instance, immense funds were invested in construction of the new building of the Central Bank of Armenia in Dilijan, but one could spend less money instead and launch some business. He also stressed that the country has a lot of important problems to be resolved.

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