Armenian leadership's policy, supporting monopolies and imports for many years played a large role in unprecedented economic recession of Armenia, Stepan Demirchayn, leader of People's Party of Armenia (PPA) told a press conference in Yerevan today.

According to Mr. Demirchyan, severe socio-economic situation in Armenia is conditioned by the decrease of external transfers.

According to Mr. Demirchyan economic policy of RA government is absolutely ineffective, since the administration spheres are entrust to non-professional people, who are not brought to justice in case of failure