It is impossible to ensure serious economic growth with low inflation, but in this regard, third President of Armenia Serzh Sargsyan and Prime Minister Nikol Pashinyan are “brothers” since they both believe low inflation is good. This is what ex-Prime Minister of Armenia, economist Hrant Bagratyan declared during a year-end press conference today.

He noted that Armenia had to refuse consumption back in 2009 and make the transition to intensive industry.

“The indicators of the year 2019 could have been worse. There are no preconditions for improvement in the course of the next two years. There is not much growth in the reprocessing industry, but the import and sale of automobiles and the sector of totalizators and the mining industry remain predominant in the country’s economy, but this can’t serve as a ground for long-term development,” Bagratyan stated.