The Armenian economy is collapsing, but the authorities are unwilling to do anything, the ex-chairman of the Central Bank of Armenia Bagrat Asatryan told journalists.

“Last year Armenia registered the lowest economic growth in the CIS, whereas it has made progress by leaving Kyrgyzstan behind,” he said ironically.

Asatryan pointed out 9.1% inflation in Armenia, the second best index in the CIS after Ukraine.

As regards exports, Armenia is the last in the CIS, its exports being even 20% lower than Tajikistan’s. “Young people will face the consequences of today’s wrong decisions,” he said.