YEREVAN. – The new wave of recession in international market will directly impact Armenia’s economy, which continues to be based on remittances and the mining industry, ARF Dashnaktsutyun Party MP Artsvik Minasyan said during a press conference on Saturday. And in his words, “as a consequence of the government’s inept policy, our economy will not be ready for that.”      

According to Minasyan, the latest adverse developments in international market are conditioned on the “change in one-center monetary policy.” That is to say, the US dollar and the American economic policy are yielding to European and even African and Asian economic policies. As a result, the dollar is weakening, but the American government is attempting to strengthen the dollar, in order not to lose its dominance.

As per Artsvik Minasyan, this problem becomes more complicated when most countries are unable to substantially reduce social spending.