Economy 17:32 04/01/2019 Armenia

Expert: Armenia saw both economic ups and downs in 2018

Armenia saw both ups and downs in economy over the past year which were driven by inertial processes in the country, economist Gagik Makaryan said, summing up the developments in the sector in 2018.

Speaking to Panorama.am, he said after the Velvet Revolution, the country achieved certain economic developments due to employers, who tried to develop their own businesses in the absence of corruption and monopolies.

“Meantime, the government didn’t create obstacles for businesses by making major reforms. Even the best reforms that seem to be successful may cause some issues for the private sector. I mean businesses need to adapt to changes,” the economist said, meantime warning of possible negative effects amid lack of economic reforms through the course of time.

Makaryan, who heads the Republican Union of Employers, calls for revising Armenia’s Tax Code in a way to not only make income tax reforms but also add provisions that would boost business development in Armenia.

Touching upon the activities of state structures, the economist stressed they failed to achieve all targets last year.

“More than half of the ministers were passive: The Ministry of Education and Science failed to make reforms, while the Ministry of Labor and Social Affairs ensured little progress. The Ministry of Economic Development and Investments didn’t manage to achieve the goals of economic development and support companies representing business interests,” he said.

“So, almost all the ministries showed passive performance and I would attribute the economic gains to businesses, rather than the state structures,” the expert added.

However, the economist doesn’t downplay all the efforts of the prime minister and the government toward combatting monopolies and corruption but calls for reviewing the methodology of the fight. 

He next voiced support for the government plan to cut down the number of ministries but stressed all the employees of those ministries should be provided with other jobs before optimization and the roles of state structures should be specified to meet the challenges facing the country. 



Source Panorama.am
Share |
Տեքստում սխալ կամ վրիպակ նկատելու դեպքում, ուղարկեք խմբագրին հաղորդագրություն` նշելով տվյալ սխալը, այնուհետև սեղմելով Ctrl-Enter:

Newsfeed

20:35
Charles Aznavour square inaugurated in France's Chaville commune
A Square dedicated to legendary French-Armenian singer Charles Aznavour was inaugurated in France's Chaville commune on June 21, the...
20:16
Turkey unafraid of U.S. sanctions over S-400 deal with Russia: minister
Turkey said Monday it does not fear U.S. sanctions over its decision to buy a Russian missile defense system that has frayed ties between the...
20:06
Armenians rally outside Russian embassy in support of Khachaturyan sisters
A group of Armenian citizens held today a rally outside the Russian Embassy in Armenia to voice support to the Khachaturyan sisters charged with...
19:31
Venice Commission to issue 'urgent opinion' on reform of Armenia's judicial code
The Venice Commission of the Council of Europe (CoE) reflected on Armenia’s judicial reforms in a synopsis on the results of a plenary...
18:55
Minsk 2019: Armenia’s Gurgen Hovhannisyan beats Turkish opponent
Armenian boxer Gurgen Hovhannisyan (+91 kg) came out on the fourth day of the European Games being held in Minsk, Belarus. In the 1/8 finals...
18:39
Constitutional Court-related protests to continue outside Armenian parliament
Members and Supporters of VETO socio-political initiative rallying outside Armenia’s Constitutional Court building against what they call...
17:51
Pashinyan chairs regular Security Council meeting
Chaired by Prime Minister Nikol Pashinyan, the Security Council of Armenia held today a regular meeting, the PM's press service reported....
17:28
Smartavia to launch Yerevan-Moscow-Yerevan flights
Russian Smartavia Airline will be operating three flights per week along the route Yerevan – Moscow (Domodedovo Airport) – Yerevan...
17:13
Artsakh appoints new deputy army commander
Artsakh Republic President Bako Sahakyan signed today a decree appointing Major General Michael Arzumanyan Deputy Commander of the Artsakh...
16:57
Paylan praises opposition win of Istanbul mayoral race
Istanbul-Armenian MP Garo Paylan representing the pro-Kurdish Peoples' Democratic Party (HDP) took to Facebook to praise the main...
16:02
Artsakh leader attends presentation of landmark decisions of country’s highest court
Artsakh President Bako Sahakyan was today present in Stepanakert at the presentation of the selected landmark decisions of the country’s...
15:45
Red Wings Airlines offers flights to Yerevan, Makhachkala as alternatives to Georgia
Russia's Red Wings Airlines offers its passengers to exchange tickets to Georgia’s Batumi or Kutaisi with those to Yerevan or...
15:07
Minsk 2019: Armenia’s Anush Grigoryan celebrates victory in 1/8 finals
Armenian boxer Anush Grigoryan on Sunday started her performance on the third day of the European Games underway in Minsk, Belarus. Anush...
14:42
Armenian FM: Recognition of Artsakh people’s rights key to lasting peace in South Caucasus
The recognition of the human security and rights of the Artsakh (Nagorno Karabakh) people is the key to lasting peace in the South Caucasus...
14:18
U.N. chief says essential to avoid escalation in the Gulf
United Nations chief Antonio Guterres warned on Sunday that it is essential to avoid “any form of escalation” in the Gulf as...
14:02
Armenia secures gold at European freestyle wrestling championship
Armenia’s representative Lyova Gevorgyan (92 kg) was named freestyle wrestling champion among cadets at the European Championship underway...
13:36
OSCE monitoring to be conducted on northeastern direction of Akna
In accordance with the arrangement reached with the authorities of the Republic of Artsakh (Nagorno Karabakh Republic), on June 25 the OSCE...
13:07
“Major blow to Erdogan” - Armenian expert comments on Istanbul election results
“Tensions are rising in the region which is conditioned with the ongoing escalation of relations between the US and Iran as well as number...
12:40
Armenian is the fifth with number of migrant in Russia
A total of 565,000 migrants arrived in Russia in 2018  -  90 per cent of them from CIS countries, the date of the NAFI  institute...
12:13
PACE Summer Session opens in Strasbourg
Summer session of the Council of Europe Parliamentary Assembly (PACE) will open on Monday  in Strasbourg to focus on a debate on the...
11:42
Georgian cinemas stop screening Russian-language films
Georgian cinemas Cavea and Amirani have stopped screening Russian-language movies. At this stage, Russian-language films are removed from...
10:52
Armenia conquers first gold at the 2nd European Games
Samboist Tigran Kirakosyan (52 kg) became a gold medalist of the European Games underway in Minsk, Belarus, the National Olympic Committee...
10:47
National Assembly to debate the tax legislation package
The National Assembly of Armenia will continue its regular session on Monday with scheduled debates on the tax legislation package. As the...
10:21
Istanbul mayoral re-run: Erdogan's ruling AKP loses again
Turkey's ruling party has lost control of Istanbul after a re-run of the city's mayoral election, latest results show, BBC reported. The...
20:00
Armenian Church celebrates Feast of St. Gregory the Illuminator’s Deliverance from the Pit
On June 22, the Armenian Apostolic Church celebrates the Feast of St. Gregory the Illuminator’s Deliverance from the Pit, one of the...
19:31
Over 2000 shots fired toward the Armenian positions over past week
The Azerbaijani armed forces violated the ceasefire along the Artsakh-Azerbaijan Line of Contact over 190 times in the past week, the...
18:45
EU threatens sanctions over Turkey’s Cyprus drilling
The EU on Thursday stepped up its rhetoric over Turkey’s” drilling for oil and gas off Cyprus, raising the threat of sanctions if...
18:24
Armenian Embassy to appeal the court arrest decision of its citizen in Georgia
Armenian Embassy of Georgia reports that Armenian diplomats met on Saturday with Armenian citizen Minas Minasyan detained in Georgian capital...
18:12
Defense minister receives High Commissioner for Diaspora Affairs
Armenian Defense Minister Davit Tonoyan received on Saturday the newly-appointed High Commissioner for Diaspora Affairs Zareh Sinanyan. As the...
17:51
Armenian shooters fail to overcome the qualification round
Armenian shooters Alla Poghosyan and Hrachik Babayan performed in the mixed team 10m air rifle event on Saturday on the second day of the 2nd...

Follow us and get updates!

Most popular articles

{"core.blocks.header.spell_message1":"Selected mistake: ","core.blocks.header.spell_message2":"Send a message about the mistake?"}