YEREVAN, April 25. /ARKA/. Armenia should elaborate a long-term social and economic development model, head of the economy and business institute of Russian-Armenia (Slavonic) University, former minister of finance and economy Edward Sandoyan said.

“We need a model like “Russia 2020”. It’s a good document and a successful attempt to review the economic development model”, Sandoyan said in his exclusive interview to ARKA Agency.

(Strategy 2020 is the reviewed concept of Russian Federation long-term socioeconomic development till 2020. Over thousand experts of the Economy Higher School and Russian Academy of Agriculture worked over the concept in 2011. ARKA).

Sandoyan said that Armenia needs to revise all risks and processes of the last years.

“In fact, the last 20-year experience shows we are moving very slowly, and it is very dangerous on a global scale. Consider only the fact that living standards are 3-5 times higher in neighboring countries”, Sandoyan said.–0--