“Existing Economic Structure Doesn’t Satisfy Us, We Must Take Serious Steps,” Says PM


The existing economic structure doesn’t satisfy the government, Prime Minister Nikol Pashinian said at today’s Cabinet meeting.

“Considering the fact that our economy comprises agrarian, moreover non-technological production, as well as gambling, (natural resource) exports, this economic structure cannot be favorable for us in any way. We want our economy to have the following structure: high tech production, IT sector, light industry, reprocessed agriculture. We must take very serious steps in order for this change to happen. During this period of reverse, change we will also have certain economic, financial difficulties, but we must go for these changes,” he said.

According to the PM, from a strategic perspective it should be ruled out when “we see that a very good indicator of economic activity exists in our country, and when we want to understand what indicator this is, it turns out that nothing has happened at all, there was simply a football world championship and during those days our youth was busy with gambling and loosing.”

“Naturally, we must solve these problems,” he said.

Edited and translated by Stepan Kocharian