Former CB governor: 2018 will be tough for Armenian economy

Baku. 26 December. REPORT.AZ/ 2018 year will be difficult for economy of Armenia. 

Report informs, former governor of Armenia's Central Bank Bagrat Asatryan told the Jamanak newspaper.

"The year will be tough. The authorities had to come forward with this statement before the budget for 2018 was approved, suggesting population to “tighten belts”. The problem is that the external positive influence of the past year will not continue in the same volume”, he said.

According to him, the main condition for growth remains systemic reforms and the political will of the authorities to implement them.

Asatryan noted that reforms themselves are not a guarantee of development, but without them it is impossible to develop a reasonable and effective economic policy.

The weak sides of the Armenian economy are dependence on external factors and private remittances and, to a large extent, on private money transfers.