No economic breakthrough under Armenia’s new government: expert

By AzerNews

Azerbaijani expert in Economy Oqtay Haqverdiyev says Armenia lacks necessary resources to achieve economic breakthrough under the new government.

"There is no basis for the Armenia's economic development. Regardless of changes to the government, the country will hardly achieve economic growth for subsequent years," Dr. Haqverdiyev told AzerNews.

Armenian President Serzh Sargsyan appointed Parliament Speaker Ovik Abramyan as Prime Minister on April 13. Abramyan replaced former Prime Minister Tigran Sargsyan who resigned on April 3.

Abramyan said that providing Armenians with a dignified life will be a priority of the new government, as most people today live in poverty.

Haqverdiyev said Armenia has neither enormous economic project, nor foreign investment inflows to improve population's living standards.

"About 80 percent of Armenia's economic depend heavily on Russia. Armenia has only Metsamor nuclear power plant and diamond production, which also heavily depend on Russia," he said.

Commenting on the Armenian government strategic development program for 2014-2025, Haqverdiyev said the program is an empty promise to satisfy the outrage of local public.

"Armenian cannot achieve economic development for subsequent decades due to lacks of natural resources, large production facilities, as well as human recourses," he said. "Armenia is unpromising country from an economic point of view."