Yerevan/Mediamax/. Former Prime Minister, representative of oppositional Armenian National Congress (ANC) Hrant Bagratyan believes that following the results of the year, economic growth will not be registered in Armenia and inflation may reach up to 10%.

Mediamax reports that Hrant Bagratyan also gave assessment to draft state budget of Armenia for 2011. He stated that if one compares the state budget of 2011 to the budget of 2008, one will see that it increased by 13%, however if one calculates inflation for that period, which made 26% in total, one will see that the budget of Armenia reduced by 13% in 4 years.

Hrant Bagratyan also commented on the law on pension reform, stressing that “the government lacks courage to admit that in such a form one should not carry out pension reform, and it constantly prolong the terms of its realization”.

Ex-Prime Minister noted that according to this reform, each year about USD 600mln will be accumulated on pension accounts, which will be used to purchase foreign securities.

At the same time Bagratyan stressed that he agrees to the necessity to reform the pension system of Armenia, since today the average pension in the country makes 20% from the average salary “and this is unacceptable”.