Armenia economic policy issues as a transition country
Armenia has had very low inflation (decreasing year after year) for almost 4 years, stable domestic currency, average level of budget deficit and GDP growth. This is considered proof that reforms are going in the right direction and financial stability has been achieved, an efficient market economy has been created and all preconditions for strong economic growth and investment flow to Armenia have been established. But what we see now in reality is strong economic stagnation, very low levels of investment activity, acute social problems and problems of poverty, which go contrary to what one of the major official macroeconomic indicators show - permanent GDP growth from year to year....