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Armenia's growing public debt resulting from populism and incorrect calculations, economist says

05.04.2021 18:29

Armenia's growing public debt resulting from populism and incorrect calculations, economist says

YEREVAN, April 5. /ARKA/. Armenia's public debt has grown substantially in recent years due to the government's populism and incorrect calculations, economist and political scientist Hrant Mikaelyan said in an interview with Novosti-Armenia news agency.

“We were told that the budget would triple or grow at least by 30%, but the result that we have now is  a large gap. One might think that this is due to the economic crisis, but this is not the case, since there were errors in the calculations. For example, the expectation that the shadow sector would  shrink to result in a strong inflow of funds was initially incorrect. The authorities could have asked experts, and we would have told them that they shouldn't have had such hopes,” Mikaelyan said.

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