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“At long last, a program budget was developed in Armenia, something that had been talked about for many years, which, unlike the previous budgets, in principle excludes arbitrary approaches to functions,” economist Tatul Manaseryan told Panorama.am in an interview, commenting on the budget of the current year.  

Even though some progress is noticeable, the 2013 budget does not to sufficient extent include all possibilities, economic potential and resources, which are very important for it, said the economist.

Referring to raising the minimum wage, Tatul Manaseryan said that there is no law in Armenia stipulating that the minimum wages are set based on the minimum consumer basket.

According to the economist, Armenia has the possibility to set the minimum wages at AMD 56,000-58,000.

Adoption of industrial strategy is a great achievement, according to Mr Manaseryan.

“I am inspired that industrial strategy was at last adopted. It is also necessary to specify the substantiations and criteria of competitive advantages and concept of priorities,” he noted.

Correct competitive policy is and will be one of the factors stimulating economic development, said the expert.

“Competitive policy ensures work efficiency and, consequently, high productivity and high payment for work. The settlement of this problem in the state sector can be linked with the optimization of the number of workers,” Manaseryan concluded.