Saturday, October 22, 2005

Reported economic growth do not correspond with the quality of life


| 19:03:45 | 20-10-2005 | Politics |

AMD deflation is natural in the economic conditions of Armenia: you have a big inflow of capital, which means the economy is in good condition, Executive Director of International Monetary Fund Jeron Kremers said today.

Later, when "A1+" asked whether the economy might be considered to be in good condition if the main part of the inflow of capital - more than $1 mlrd [billion], is sent by relatives of Armenians, Mr. Kremers contradicted his own statement: "Of course, if the main part of inflow of capital are private transfers, it's not good, it means economy is in bad condition", - he answered.

Nevertheless, Jeron Kremers went on praising the economy of Armenia, the two-digit increase, economic policy held. And if for 5 more years attention is paid to the development of the components he mentioned, in 5 years time, according to Mr. Kremers, we will have a considerably improved social condition in our country. And which are those components? Investments in the spheres of education and road-building, tax and customs bodies, reforms in financial field, fortification of bases of economic increase, and eventually, the authorities must act so that the increase will improve the standard of life.

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