(Saturday, April 30)
“The April war [in Nagorno-Karabakh] showed that money is Armenia’s main problem,” writes “168 Zham.” The hostilities only made that problem even more acute, says the paper. It believes that the lack of public funds in the country does not mean that money cannot be raised from other domestic sources, notably “oligarchs” and wealthy government officials not paying taxes or engaging in other types of fraud.
“The April war clearly demonstrated just how weak the Armenian state apparatus is,” writes “Zhoghovurd.” “Serzh Sarkisian, the man heading it, has wasted his years in power only on the reinforcement of his positions …The war showed that his closely-knit team is no longer fit to secure both Serzh Sarkisian’s and Armenia’s future. That is why Sarkisian urgently needs to embark on changes.”
“Armenia’s public debt continues to steadily rise,” reports “Haykakan Zhamanak.” “As of April 1, it stood at almost $5.2 billion. It means that over the past year our public debt has increased by $576 million … At the same time our state budget revenue decreased [by 3.2 percent] in the same period … This in turn demonstrates that Armenia’s lives off borrowing. The fact that state revenue not only does not grow but actually goes down amid the rising debt shows that Armenia is headed to depression.”