YEREVAN. – The volume of investments as indicated by the government program is extremely insufficient.

National Assembly (NA) “Prosperous Armenia” Faction member Mikayel Melkumyan, who also heads the NA Standing Committee on Regional and Eurasian Integration, noted the aforementioned during Monday’s briefings at parliament.

Commenting on the economic section of the recently-approved government program, he stated that increasing investments in Armenia from 15.5 percent to 23 percent means that the country’s authorities will be unable to reach even the 41-percent indicator in 2008.

“One hundred and twenty million [US] dollars [in investments] annually is too small; even having a 7- to 7.5-percent economic growth is small,” Melkumyan explained. “It’s important that people [in Armenia] sense it; and for that, at least 2.5 to 3 billion dollars in investments are needed.”

As per the MP, difficulties in connection with credit resources hinder Armenia’s economy because, as a result, businesses are unable to get affordable loans.