Minister: Monetary policy remains a problem in Armenia

Mon 06 March 2017 04:58 GMT | 08:58 Local Time

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The high interest rates in Armenia hinder the development of private business.

Minster of Territorial Administration and Development of Armenia, Davit Lokyan, said the aforementioned on Sunday while introducing the ARF Dashnaktsutyun election program, news.am reports.

In his words, it is very difficult for the private sector to develop without state support. ''For such a small country as Armenia the state support is needed for solving the issues of private sector,'' the minister noted.

The monetary policy is another problem: In particular, the rather high interest rates hinder the development of private entrepreneurship and opening of jobs, he added. ''There are issues in terms of competitiveness,'' Lokyan said. 

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