YEREVAN. – The 7.8% economic growth did not create an extra quality value in Armenia. Economist Vardan Bostanjyan said this at a press conference today, urging not to use the word "unprecedented" inappropriately.

"By and large, they have recorded that 7-8 percent," he said. "But as an economist I would say that this is a quasi-indicator, there was a mythological thing, a Sisyphus job."

According to Bostanjyan, any development in terms of quality is built on GDP.

"In this respect, there is still no success recorded in Armenia in spite of the fact that there is a 9% growth recorded in industry," he added. "These [economic] growths should not be misleading."

Bostanjyan noted that the 7.8% economic growth did not create an extra quality value in Armenia.

"the specialists (…) with such potential could have achieved this," he added. "I wonder how hard they work in these conditions, or if they are able to fully manifest themselves or not."