55 Percent of Armenia’s Economy Privatized Through Bribery

YEREVAN (Noyan Tapan)–"Over half of Armenia’s economic strength–more precisely 55 percent–were ‘privatized’ through bribery and plunder occurring everywhere," according to "The Concept of Armenia’s Economic Development," a statement by Professor at Yerevan State University–doctor of economic sciences Tatul Manaserian.

Manaserian says that these facts show that a group of interested people had caused "most of the national wealth of the republic to equal the cost of personal property of an average American." According to Manaserian–sometimes "the programs implemented by the shadow economy are accommodated to the major trends of the government’s economic policy."

Manaserian says that at present there are many businessmen who do not consider production of goods to be their priority. They would rather quickly re-sell "privatized" enterprises deriving handsome profits than recommission them. In Manaserian’s judgment–it is obvious that "on the aggregate–the shadow economy possesses more financial means than the Public Treasury." Hence–the author of the "Concept" concludes that in Armenia "there are certain forces of private economic control typical of economically underdeveloped countries with "petty governmen’s."

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