The draft budget submitted to the Armenian Parliament is one more “shoestring budget,” which does not promise anything, Vahagn Khachatryan, a member of the opposition Armenian National Congress (ANC), told journalists Oct. 14.

According to him, it is a “pro-forma submitted draft of a limited budget.”

The Armenian Parliament is to start discussing the draft budget next week, but “there is no need for that.”

“I can substantiate my point. The draft budget is nothing. The present processes in the Armenian economy could have been forecast. One day we will not be able to speak of economic growth or progress. It was obvious in 2004-2005, when import and maintenance of oligarch-type economy were the focus,” Khachatryan said. To substantiate his point Khachatryan claimed that Armenia hopes for private transfers.

“We have no economy. Thee is not a single economic sector in Armenia ensuring higher living standards. The much talked-of 2-3 per cent economic growth does not actually exist. But even if we registered 12% growth, economic progress would be challenged,” Khachatryan said.

When attempts are made to assess the real economic situation, it is obvious that the figures made available to the public have nothing to do with the reality.

“So why do the authorities act like that? Because figures reflect their activities – figures are very important for them. When 8.8% growth was registered this April, and tax revenues were at a low level, the Government was concerned because they were to submit a report to the World Bank. But the figures do not change anything in our life. The fact is that we live in even worse conditions,” the ANC member said.