Sergey Bagratyan: Reported That 130,000 People Are No Longer on Blacklists—There Is Deception Here

The annual report on the activities of the Central Bank of Armenia suggests that everything seems normal according to the data, with a projected economic growth of 6.1 percent for 2019.

“But these figures raise many questions—how can we expect development in our economy if there are no investments? The question arises whether domestic reserves are being used correctly, especially if the Central Bank is regulating the system in a way that encourages investments. I believe the answer here is negative. Why is the banking system not actively servicing the investment environment? It is time for the Central Bank to implement the right monetary policy,” he said.

He added that simultaneously, agricultural enterprises are facing serious issues—they cannot take advantage of loans with low interest rates or are on blacklists. “The government has now been informed that 130,000 people are no longer on blacklists, but is it really so? I believe there is deception here and the correct figures are not presented.

In this situation, if we follow the trend, large capital has, as the people say, settled its behind—hoping that it will lay an egg. Those golden eggs will not hatch; they will rot because that capital will not work and is doomed to return to those from whom it was taken,” Bagratyan stated.