YEREVAN. – Irates De Facto newspaper spoke with Armenian economy minister Vahram Avanesyan. Below is an excerpt from the interview. 

“In your view, will this year’s budget improve the social situation [in Armenia]? 

“We have quite comprehensive programs in terms of social spending. Of course, we have problems. Today, 50 percent of Armenia’s budget is channeled to social spending, and this leaves little room for investment policy. Social spending is very important, but the need for investments likewise is great. We cannot forecast and implement an unrealistic growth in revenue. [But] there are numerous positive steps. 

“Is Armenia a reliable country in terms of investment? 

“Armenia is not the best country for investments. There are many reasons, starting from [its] geography, small, limited market, [being] a low-income country, the low level of the agencies conducting judicial, tax, economic policy, etc.”