Armenia faces dilemma: to fight the crisis and concurrently carry out reforms

PanARMENIAN.Net -  

Armenia is at early stages of building effective market relations and institutions, Tigran Jrbashyan , former co-director of the Armenian-European Policy and Legal  Advice Center(AEPLAC), director in development of Ameriabank told a PanARMENIAN.Net reporter.



"Unfortunately, we missed the important period, 18 years passed since Independence Day,  reforms that we carried out were partial and did not been fulfilled, resulting in  inadequate institutions we have now," he said.  

 

The country is in a completely different economic situation, and faces a dilemma: to fight the crisis or carry out concurrent reforms, which is very difficult. According to Tigran Jrbashyan, it was necessary to restructure the economy and management system in conditions when the economy experienced a double-digit growth, "now it is much more difficult to do this".



Armenia needs reforms, Tigran Jrbashyan said. Unfortunately, reforms are made when it is bad," he said. However, according to him, "if we approach the crisis as an opportunity for serious reforms, the different stakeholders would reach a consensus on these reforms.



"I hope the next 15 years will be much more productive in respect to reforms and the development of effective market relations and institutions, than it was before. I am an optimist and I think that Armenia will manage the situation, since our nation in times of crisis is able to jump above the head," Tigran Jrbashyan said.