Last year, Armenia announced 5% economic growth, and this year, the government announced 6.5% or 7% economic growth, but these figures are also “drawn” since they are exaggerated by nearly two times. This is what former Prime Minister of Armenia, economist Hrant Bagratyan declared during a conference devoted to the results of the year today. According to him, the indicators of investments are also wrong since the selected methodology of calculation is a wrong methodology.

He emphasized that the salaries went up by 3.8% last year, and inflation made up 2.5% in the same period, while this year, salaries rose by 5.9%, while inflation rose by 1.5%.

According to the economist, the key indicator of the fight against corruption is the ratio of taxes to the GDP. He added that the only way out is the increase of the exchange rate of the Armenian Dram, and if the Central Bank doesn’t increase the exchange rate, there will be a risk that the quality of life in Armenia may drop by two or three times in one day and turn Armenia into an ‘economic cemetery’.