Strategic Studies Center: Armenia's macroeconomic prospects do not bode well for investors
BAKU, Azerbaijan, Oct. 10
Armenia's macroeconomic prospects do not bode well for investors, Lieutenant Colonel Khalid Taimur Akram (Retd), Executive Director, Center for Global & Strategic Studies (CGSS) wrote, Trend reports.
In an article named “Is it worth investing in Armenia?!” Akram writes that global spread of false information about Armenia's good performance in order to attract foreign financial resources and implementation of extensive propaganda campaigns may attract the interest of foreign investors.
“However, drawing attention to the facts and realities, the question arises: "Is it worth investing in Armenia?!" The facts broadly described below confirm that the answer to this question is unambiguously negative,” he wrote.
“General economic indicators, high external debt, current account deficit lead to disruption of economic stability in the country, which, in its turn, jeopardizes the return on investment,” the author writes.
Bringing up the facts that ‘Armenia is the country with the most limited logistic opportunities in the region’ and that ‘Armenia has low investment potential’ Akram said that ‘the negative macroeconomic environment of this country, which is very poor in terms of resources, and the low level of strategic assets are sufficient to prevent adequate investors from choosing it.’
“By being unable to combat the COVID-19 coronavirus effectively, Armenia has brought the country's economy face to face with great damage in various areas. This country has the highest level of infection and deaths in the region, and this situation continues. Thus, Armenia ranks 23 with the number of COVID-19 deaths per million people (337.09 per million). It ranks first among the post-Soviet countries. Today, the number of infected is increasing as well,” the author wrote.
The author also emphasized that unstable political environment in Armenia also increases investment risks and that mono-nationalistic inclinations of the Armenian people make it difficult for foreign citizens to work in the country.
“From this point of view, even if not taking into account the other listed risks, investments made in the Armenian state are considered at least inhuman and directed against society. That is why we call every investor to think seriously before investing in Armenia,” the author concluded.