ArmInfo.A shameful economic and social situation is developing in Armenia, and it is no coincidence that the government chose the path of placing Eurobonds worth $ 750 million, Chairman of the Parliamentary Commission on Eurasian and Regional Integration Mikael Melkumyan said at a briefing on February 15.
According to him, these funds are necessary to pay pensions and wages. As a result, the national debt of the country with 62% of GDP, by the end of the year will reach 73%. This figure, according to Melkumyan, is unprecedented, the country has never had such a volume. Logic dictates the need to invest this money in areas such as infrastructure, business assistance, which will ease the debt burden. Meanwhile, the funds raised will be enough for 3-4 months of salary payments, and the question of what to do next remains open. The growth rate of the national debt should be less than the growth rate of the economy. Even in a pandemic and war, with the necessary reserves, the country would not find itself in such a position. And the situation is really crisis: an 8% decline in GDP, which is the highest figure among the EAEU countries. Thus, the claims of an economic revolution are also based on falsifications.
There is no direct foreign investment either. If in 2019, compared to 2018, the volume of DFI in the country's economy decreased by 2 times, then in 2020 compared to the previous year - by 11 times. Moreover, the main investors - Russian - began to invest in infrastructure projects in their country - gas, electricity, etc. Profitability also dropped to the lowest level. When the authorities divide investors into "robbers", "black and white" cannot be expected otherwise. "Where does the homeland begin?" The deputy asked, adding that the answer to this question differs significantly from the approaches of the "Prosperous Armenia" party.