The fact that Armenia is not included in the program of Millennium Challenges Corporation should not be something to concern about.
“This is not the only program that we can work on. Do not consider it as a tragedy, look at the good side of it,” says former Central Bank Chairman Bagrat Asatryan.
The economist recalls that Armenia was deprived of this program after the March 1, 2018 events:”This was the assessment of our authorities.”
To recall, the Millennium Challenges Corporation has rejected the program of financing Armenia, and the reason for not supporting Armenia was that according to the World Bank’s report of July 1, Armenia has become a high-income country.
Economist Atom Margaryan mentions: “Our rating is even underestimated. Armenia cannot always be a beggar or a recipient. Armenia has received enough money for such institutional reforms.”
Even though economic activity figures have become high in recent months, the economist sees problems here.
“The unemployment rate remains at a unnatural high level, which is about three times higher than the natural unemployment rate.”
According to the National Statistical Service, the economic activity index of Armenia in the first half of 2018 was 8.9%, and in June it reached 9.6%.