When We Have Pre-Crisis Level Indicators, We Can Say the Economy Has Recovered: Tunyan

When we have the indicators at pre-crisis levels, we can say that the economy has recovered, but it is clear that the pace of decline is slowing down. This was stated by Babken Tunyan, the head of the Economic Affairs Committee of the National Assembly, during a briefing with journalists.

Regarding the inflation recorded in the country, Babken Tunyan noted that according to the Central Bank’s forecasts, inflation will return to normal, target levels by the end of the year and will be around 3-5 percent. “In this case, the government should support socially vulnerable groups as much as possible and try to ensure that economic growth is restored quickly. The state does not have a direct influence on product prices. If any product price rises in the international market, no one can force the seller to sell below cost or operate at a loss, but the state must take steps to ensure that the economy recovers as quickly as possible, which will lead to an increase in people's incomes. In other words, income should grow faster than prices,” said the MP.

Babken Tunyan noted that if pensions or salaries are increased merely by borrowing at this time, that would not solve the problem, as it would lead to even greater inflation.

In response to a question about how he assesses the government’s anti-crisis programs, the MP mentioned that he participated in the development of most of them, saw the quality of discussions, and is confident that the government has done everything possible under those circumstances. “How much this has mitigated the decline is a topic for a separate significant analysis. For example, there are people who say that the amount of support should have been greater, but if it had been larger, we would have fallen under greater state debt, and that would have become a topic of discussion. A balanced approach was chosen, and I am confident that these steps have served their purpose,” said Babken Tunyan.