“Steps to diversify Armenia’s economy will partly succeed”
“Attempts to diversify Armenia’s economy will be successful if corruption system is eliminated,” Konstantin Simonov, Russian economist, told 168.am, reflecting to possible results of “Armenia: Investment Forum 2016,” launched in New York’s financial center—Wall Street.
During the Summit the Armenian party introduced 8 investment directions, where investors from the U.S. may work. The Summit was held under the patronage of Armenian president Serzh Sargsyan, in the period of October 10-11 in New York.
In particular, touching upon concerns, that after membership to EEU Armenian foreign investments have decreased, Konstantin Simonov said that Armenian respective organizations should do in-depth analysis why it happened, if official sources area available. “However, what I can say is the following: this should have been anticipated on account of Armenian market, economic field, EEU ongoing situation and Russia’s economic crisis. There are no hopes for the situation amelioration, as you see, as long as international politics is tense, Russia’s economy will be tense as well,” Simonov said.
In his words, launching of the Summit between Armenia and the USA is welcomed. “If EEU continues existing in the future as well, it’ll only gain if its members have stable economy, which should be diversified and miscellaneous.
Today Russia and EEU are in a situation, where relying on transfers and investments from Russia will be observed as proper policy. I have repeatedly stated that Armenia should take steps to that end. I consider, those steps will partly succeed and it’ll be recorded, when Armenia’s corruption system is eliminated,” Russian economist said. According to the latter, presently Russia has no other way. “Even if it’s not enthusiastic about these initiatives by Armenia, it won’t oppose to them, as its opposite option is overdependence of Russia, which Russia can’t presently satisfy,” Simonov said, adding that it’s welcomed that Armenia attempts to engage investors.
By Araks Martirosyan
