Former RA Prime Minister, Doctor of Economics, Professor Hrant Bagratyan disputed the viewpoint of Nikol Pashinyan on economic growth.

"Everything is wrong here," writes Bagratyan in his Facebook page.

Hrant Bagratyan stresses that the Prime Minister does not mention the comparison base, so it is not clear compared to which period the growth has been recorded, which is wrong because there is a seasonal factor.

Additionally, Bagratyan offers three ways of calculating deposits: in drams, dollars and / or euros, opening the methodology each of them. "In drams. The correct methodology is the percentage of economic growth of the deposit in the given currency in the current period as compared to the previous period. Thus, so that deposits in Armenia would not have decreased relatively, they should have grown 9.5 + 7.7 = 17.2%. There is a small inaccuracy here, 7.7 is an eight-month economic growth (the 9-month economic growth is not published). The same goes for dollars and /or euros. "

Hrant Bagratyan also touched upon asset growth rates. "Assets have grown by 7%. It should have been 17.2% + bank spread % (difference between loan interest and deposit interest rate). That is, about 20%. "

In the opinion of the professor, the prime minister should be concerned about the state of the economy. "In the 2nd quarter the investments have dropped 11 times as compared to the 1st one. In the complete absence of investments, the demand for credit grows. And there is nothing good here."

Below we present the post of Nikol Pashinyan’s statement yesterday on his Facebook page,

"We are gathering speed for economic flight -2

"Since the Revolution, from May, the assets of the banking system have grown by 10.5%, loans have grown by 7.0%, individuals' loans have increased by 10.4%, and legal entities' loans have increased by 4.3%. Deposits have grown by 9.2%. "

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