GROWING BUSINESS IF OLIGARCHS IS NOT GENERAL WELFARE

15:34 25/01/2013
Story from Lragir.am News:

Last year the business activity index was 7.2%. According to the
National Statistics Service, considerable growth was reported in
almost all the branches: manufacturing 8.8%, gross agricultural output
9.5%, 9trade 3.6%, foreign trade 3.9%.

According to official statistics, last year the average monthly
nominal wage has grown by 5.1%.

Member of Parliament Artsvik Minasyan of ARF, economist, says the
reported 7 % growth has not improved the quality of life. Minasyan
told Lragir.am that the business activity index could have been even
higher without affecting the quality of life.

“Formal economic growth is nothing unless it results in improvement of
quality of life. There may be several oligarchs who will ensure their
products sell well but it will affect neither salaries and quality of
life, nor budget revenues. It will have no implication of a feeling of
unity in the society,” he says.

The MP says official indices have nothing to do with real life. The
current situation requires transition from titular indices to real
change.

From: A. Papazian