Arthur Khachatryan presents Armenia Alliance economic program

2026-03-19 - 16:31

Arthur Khachatryan, a member of the ARF Armenia Supreme Body and a lawmaker from the Armenia Alliance, outlined the bloc’s economic policy priorities at a ceremonial event at the Karen Demirchyan Sports and Concert Complex in Yerevan. In his remarks, Khachatryan sharply criticized the government’s economic performance, arguing that official statistics do not reflect the realities faced by ordinary citizens. He said living conditions can be better understood “by looking at people’s refrigerators and wallets,” pointing to rising household debt. According to Khachatryan, about 300,000 people in Armenia hold problematic consumer loans, while approximately 150,000 citizens lack even 250,000 drams to meet basic financial obligations. He also questioned government claims about average wages, noting that a significant portion of workers earn less than the reported figures once taxes are taken into account. Khachatryan further criticized the country’s growing public debt, stating that Armenia’s state debt has reached approximately 5.3 trillion drams ($14 billion) and continues to increase rapidly. He argued that a substantial portion of the state budget is now directed toward debt servicing, placing a heavy burden on taxpayers. He also pointed to structural weaknesses in the economy, noting that Armenia’s largest sector remains wholesale,retail trade and vehicle repair, rather than high-tech or industrial production, despite government promises of a knowledge-based economy. Three pillars of economic policy Khachatryan outlined three core pillars of the Armenia Alliance’s economic strategy: Creating a favorable environment for economic and business development Providing targeted support for domestic producers Ensuring fair distribution of national wealth Key policy proposals He presented 12 key policy directions, including: Transforming Armenia into a high-tech industrial country, with industry accounting for at least 25% of GDP Integrating Armenian businesses into global value chains Expanding state support for technology startups and research projects, particularly in the defense sector Encouraging banks and pension funds to finance the real economy and establishing investment funds for major infrastructure projects Prioritizing Armenian-made products in public procurement and expanding export markets Protecting strategic sectors such as agriculture and textiles from unfair foreign competition Supporting small and medium-sized enterprises through tax incentives, automated reporting systems, and a two-year tax holiday for startups Promoting balanced regional development beyond Yerevan Strengthening agriculture, targeting at least 15% of GDP, while improving rural living standards and food security Introducing a progressive income tax system and reducing unemployment by creating 30,000 to 45,000 jobs annually Raising the minimum wage to align with the cost of living Increasing the base pension by 50% and indexing it annually to inflation Khachatryan said the measures outlined represent foundational principles rather than a complete program, adding that a more detailed economic platform will be presented in the coming weeks. He expressed confidence that the proposed policies would drive economic growth and improve living standards across Armenia.