Yerevan, June 30. /Mediamax/. The open discussion “Competitiveness of Armenia’s entrepreneurship and economy” was held in Yerevan today.

The chairman of the Central Bank of Armenia (CB), Tigran Sarkisian, said today that taking into consideration the unprecedented growth of the economy accompanied by a low level of inflation, Armenia faces new challenges from the point of view of competitiveness. First of all, he said, it’s the shadow economy which hampers the formation of the free competition system and creates unequal conditions for domestic entrepreneurs.

Tigran Sarkisian pointed out that the shadow economy also creates problems for the effective policy of the state and does not allow to assess the weak and the strong sides of the economy. Among the phenomena impeding the economic development, Tigran Sarkisian mentioned the high level of inflation. According to Tigran Sarkisian, to fight the negative manifestations of the economy the country should have a clear policy, good will of the entrepreneurs and coordinated efforts of the public.

In his turn, the head of the Armenian-European Policy and Legal Advice Center (AEPLAC), Tigran Jrbashyan, expressed the opinion that fighting the “illness” by administrative measures one can deepen it. According to him, before fighting the shadow economy one thing should be determined – whether it is the cause of the effect.