Economist on Levon Ter-Petrosyan’s alarm: “There is no default situation at present”
Today Levon Ter-Petrosyan’s alarm has been spread on the Internet that upon the background of reforms underway in our country, real economic disaster, hidden default, threatens our country. “A1+” contacted economist Vilen Khachatryan, in order to get comments on the topic. The latter noted that we can imagine much under the expression “hidden default”. “It is difficult to say what he meant, which sphere- external debts, state budget or the economic situation of the country?” he noted, adding that at present default doesn’t threaten our country: “Default is the country’s bankcruptcy at state level, when the country isn’t able to pay the wages, state debts etc, but we are able. Of course, the current economic situation of our country always bears risks, but at present there is no default situation,” he said. According to the words of economist, first of all the risks refer to the budget and external debt. “The third risk is the low level of economic growth, the fourth- the issue of importation. Compared with last year, the importation rate in our country has decreased by USD 1 billion 170 million, the purchasing power of people has fallen. They are risks, which may lead to default, but if we speak about hidden default, there may be processes, the results of which we cannot see now.”
