YEREVAN. – The banking system is the main tool of destruction in Armenia, member of former Karabakh committee Ashot Manucharyan said.

The politician said banks are busy with giving loans at high interest rates. As a result, being unable to repay the loans, people sell their homes and leave the republic.

“I do not know any other post-Soviet state, except Armenia, where population fell by half after the collapse of the Soviet Union,” Manucharyan said.

In addition, he drew attention to the fact that a scientist receives a salary of about $100 - 200, while the banker's wages are much higher.

As regards the activities of the newgovernment, Manucharyan said he does not consider this “a government”.

“Armenian oligarchy has created a system of robbery and placed their own people in the system,” he emphasized.

Nevertheless, former member of Karabakh committee believes the new Cabinet can to some extent improve the situation.  In particular, oligarchs, as major economic players, must return all their wealth overseas to Armenia and develop the economy.