On November 22, 2010, the Armenian people is living worse than it lived the same day last year, the ex-chairman of the Central Bank of Armenia (CBA) and member of the Armenian National Congress (ANC) Bagrat Asatryan stated at a Nov 22 conference of the occasion of Bank Employee Day.

“We see discontent everywhere. Some economic sectors have registered decline. With the figures registered the last two years considered, we will live even worse next year,” Asatryan said.

As regards this year’s macroeconomic indicators, Asatryan forecasts higher rates of economic decline.  

“Last year I foresaw a two-digit economic decline – 10 to 11 per cent. Even I was surprised at the 15% decline. This year’s economic situation should be viewed in the context of last year’s 15% decline,” he said.

According to Asatryan, Armenia is the CIS leader in economic decline. Armenia also set one more “record” – the lowest exports in the CIS.

As regards the 17-year old Armenian dram, Asatryan pointed out that “to build up its future the Dram has to marry another currency.” The Armenian currency had better “couple” with any European currency.

“Armenia is a European country. We, Armenians, are Europeans. Our future is in Europe,” he said. Asatryan said that he was against the circulation of Russian ruble in Armenia as far back as 1993.