Tweet
OLIGARCHS PROFIT BY THE EXCHANGE RATE
A1+
[08:10 pm] 16 October, 2006
"40% of the economy of Armenia is shadow, but the authorities are bold
enough to announce about the dynamic development of the economy",
announced leader of the National Unity Artashes Geghamyan who was
the main speaker during the discussions dedicated to the exchange
rate of the Armenian dram organized by the anti-criminal movement.
Mr. Geghamyan tried to solve the riddle of the fall of the USD in
exchange. "Everything is very simple: they try to explain away saying
that a number of developed countries including the Great Britain,
Norway and the Netherlands, had the same disease. The so-called
'disease' came into existence in 1950a when stores of natural gas
were found in the Netherlands as a result of which the Dutch currency
rose in exchange. Today, they try to do the same in Armenia without
finding any natural stores".
Who will profit by this situation? Mr. Geghamyan himself answered his
question, "Those people who engage in importing goods. We are aware
of the fact that the import field is monopolized and is in the hands
of a few people". Without mentioning names, Mr. Geghamyan continued,
"Importing their goods, the oligarchs have an income of 10%. They have
appropriated more than 12 billion 171 million. The importers have an
income of more than 350-400 million USD which is free from taxation".
A1+
[08:10 pm] 16 October, 2006
"40% of the economy of Armenia is shadow, but the authorities are bold
enough to announce about the dynamic development of the economy",
announced leader of the National Unity Artashes Geghamyan who was
the main speaker during the discussions dedicated to the exchange
rate of the Armenian dram organized by the anti-criminal movement.
Mr. Geghamyan tried to solve the riddle of the fall of the USD in
exchange. "Everything is very simple: they try to explain away saying
that a number of developed countries including the Great Britain,
Norway and the Netherlands, had the same disease. The so-called
'disease' came into existence in 1950a when stores of natural gas
were found in the Netherlands as a result of which the Dutch currency
rose in exchange. Today, they try to do the same in Armenia without
finding any natural stores".
Who will profit by this situation? Mr. Geghamyan himself answered his
question, "Those people who engage in importing goods. We are aware
of the fact that the import field is monopolized and is in the hands
of a few people". Without mentioning names, Mr. Geghamyan continued,
"Importing their goods, the oligarchs have an income of 10%. They have
appropriated more than 12 billion 171 million. The importers have an
income of more than 350-400 million USD which is free from taxation".