How is Armenia's economy improving? Or is it?
Posted 07 March 2008 - 01:03 AM
Posted 07 March 2008 - 02:39 AM
Posted 08 March 2008 - 06:02 PM
Posted 08 March 2008 - 06:05 PM
Posted 08 March 2008 - 07:13 PM
You can't really rely on the statistics of these post-Soviet republics to compare their economies. But there definitely is an improvement in the living standards of an 'average' Armenian compared to the 90-s. I don't know how sustainable this is - a major chunk of the Armenian growth is financed by transfers from immigrant workers abroad. This has resulted in a 'Dutch Disease' - strong local currency that makes local production unprofitable due to strong currency.
But even with the strengthening currency the inflation is high. Just this week there was a large spike in food prices.
Posted 09 March 2008 - 11:48 AM
You make it sound that this inflationary surge happened in Armenia alone...!
However if you care to check around, Turkey, France, UK, USA..... Asia,.....Africa etc; you will notice that this is a global phenomenon... prices are surging on account of the artificial surge of the price for energy, mainly(OIL).
Wheat is up everywhere, hence the rest of the food chain is following this trend.
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