YEREVAN. – The more loans “for the benefit” of Armenia the authorities take, the worse are living standards, secretary of Prosperous Armenia Naira Zohrabyan said in the parliament.

According to her, Armenia did not benefit much from foreign loans, whereas the level of debt-to-GDP ratio is increasing and is nearing $5 billion. At the end of 2013 the amount reached $3 billion 899 million.

“The current government must realize that such irresponsible policy gives nothing to people. Foreign loans should at least be accompanied by skilful management,” she added.