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YEREVAN. – Armenia's economy experiences problems, and introduction of cheap labor was chosen while the wages decreasing, expert Hayk Balanyan told reporters.

The expert reflected on the large flow of Indian citizens to Armenia and their employment.

According to him, over the years, the number of domestic investments is reducing, and there is no such economic growth that would require additional labor.

“In the case of cheap labor there should be an increase in productivity, but this is not happening, since a substantial part of this amount is withdrawn from Armenia. The government of India encourages emigration, for which it even provides money to its citizens,” said Balanyan.

The expert is confident that the situation with the introduction of cheap labor in the Armenian market will lead to “an obstacle to tech development,” since our country's economy has reached a stage after which it must move to completely new qualities. It is here that the transition of quality may not take place, he stressed.

By importing cheap labor, Armenia pushes away its own population, as a result of which it loses capital and value. The expert is sure that it is necessary to talk about these problems. He also suggested that the government reviewed the process of granting visas.

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