Economy Hanging by a Hair: 'Fact'

The dire situation of the Armenian economy is a topic of discussion among nearly all specialists in the field. The problem is that, according to economists, there is essentially no money in Armenia, and what little exists is not circulating, which in turn is automatically leading the country towards economic collapse.

As is known, just recently, the authorities issued eurobonds worth around 750 million euros in order to service the budget deficit, primarily to be able to pay pensions and salaries. This fact was also confirmed by a member of the ruling party in parliament.

According to information from the 'Fact' newspaper, this amount is not sufficient, and currently, the authorities are once again facing a serious financial problem and are forced to print money. This means that the volume of money within the country is increasing without a recorded growth in GDP. In other words, the Armenian authorities are occupied with monetary emission. Economists warn that the consequences of this will be devastating for an economy already hanging by a thread.