No production but exporting

No production but exporting

As mentioned by economist Vilen Khachatryan, one of the indicators to measure the economic condition is the loans-deposits ratio which has become so close in our country that our deposits and loans have become almost equal.  If the sum of the loans minus deposits amounted to AMD 480 billion then now, it is almost AMD 23 billion which means that if the deposits grow and the loans are in excess, the interest from the loans will not be sufficient to make payments for the deposits.  “Here, I have seen some risk because the economy cannot enthrall these funds.  People prefer to deposit and the loans begin to grow more slowly.”

Recently, at the “Tesaket” club, Mr. Khachatryan also spoke about the indicators on export published by the National Statistical Service and the economic developments against the background of expected elections.  Referring to the indicator that the export has increased by 20 percent where 50 percent goes to Russia, Vilen Khachatryan looks at this with reservation.  Economist has a question if an economy is reporting such a growth, then only one indicator in required: the growth of index of electricity consumption, “In other words, it is a production, and the production assumes also use of certain resources.  While we see that electricity production in the country has dropped by 6.2 percent compared to the previous year.  In other words, this is an indicator which indicates exporting at the expense of what we did not produce.”

To the question of on which months the corruption will increase for the political parties distributing election brides during the elections will try to bring this money back, Mr. Khachatryan replied, “People who sell their welfare of five years in the future to solve their daily problem, in the whole period in the future they will have to pay for whatever deal they have made in the meantime.  It will be the period which will enable the one who has power use this lever against the latter.”


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