The Armenian Government was not prepared for the economic crisis nor did it properly respond to it or the further tendencies, Armen Rustamyan, the ARF Executive Council member, stated at the conference “Socialist approaches to Armenia’s challenges: global prospects, local reality.”

Rustamyan said that an economic situation with a rapid inflation, low purchasing power, worsening living conditions can trigger a social explosion.

“Workers’ rights and interests are not protected now. Unemployment and migration are increasing. These and other socio-economic problems make us establish our own priorities and mechanisms of economic recovery. Plutocracy is reigning in Armenia now, and the plutocracy principles will be in effect as long as economic and political components are interwoven,” Rustamyan said.

It is high time modern-day socialism were opposed to the present challenges, which will lead to social unity. The priority task is, according to the ARF, struggle against poverty health reforms, forming a high-quality education system, ensuring employment, creating competitive economy and supporting export.

T.P.