Economist sees progress in Armenia
Despite the economic decline reported in Armenia during the pre-election period, economist Tatul Manaseryan sees progress in the country.
"There has been double-digit growth in industry, 20 percent growth in electricity production and comparatively modest growth in the sphere of services," he said.
The economist says that businessmen demonstrated cowardice on the eve of the [March 6] parliamentary elections and refrained from making investments in economy.
"Naturally, they were all waiting for the election results," he said, predicting new investments in the future.
Mr. Manaseryan calls the attention of businessman to the fact that unlike many European countries, Armenia is already surmounting the global financial crisis.
If once construction was dominating in economy, today it has yielded its position to mining industry, he stressed. The economist is convinced that by promoting agriculture we shall be able to ensure sustainable economic growth.
Tatul Manaseryan forecasts a new wave of economic growth in the fall. In this context, he highlights the role of the newly-formed government and says he does not want to see vibrations in the the executive branch.
