Yerevan/Mediamax/. Former Chairman of Armenian Central Bank Bagrat Asatryan described Armenian state budget for 2011 as a “survival budget of the tired government”.

“This document evidences that Armenian government is unable to work and solve principle economic tasks”, Ex-Chairman of CB stated in Yerevan today. He expressed concern by the fact that against the background of unprecedented for the recent years inflation of 10%, expected by the end of the year, the social expenses in 2011 will increase only by 7.7%. According to Asatryan, inflation exceeds 7.7% already today.

Former Chairman of CB urged the government to take up measures “in connection with the launching currency war among USD, EUR, Yuan and Yen”. According to him, in the current situation, one should carry out more balanced reserve management and make profit where possible”.