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HRANT BAGRATYAN: NEW OLIGARCHS OWNING PENSION ASSETS WILL APPEAR IN ARMENIA
PanARMENIAN.Net
July 20, 2010 - 13:27 AMT 08:27 GMT
Former prime minister of Armenia Hrant Bagratyan said that the
legislative package of pension reforms have not been thoroughly
discussed by the Armenian parliament.
"Members of the parliament either did not want to go into details,
or they do not understand anything, as the package is rather complex,"
Bagratyan told a press conference in Yerevan.
The former prime minister expressed his opinion concerning
implementation of pension reforms in the country, saying that the
pension amount should have a nominal value and make 30% of the
average salary, as if this ratio exceeds the average salary, people
are deprived of the stimulus to work. As for the compulsory funded
component, Bagratyan is against its introduction.
He criticized the government for the fact that the pension assets,
which it is going to collect from the population (around $800mln),
will be transferred to managers chosen by the government. "As a
result, new oligarchs owning pensions assets will appear in Armenia,"
noted Bagratyan.
Besides, he said that the legislative package of pension reforms
provides with the opportunity to invest in securities of developed
countries, what will result in outflow of funds from the country.
Meanwhile, according to him, the pension assets should stay in the
country to be invested in such huge projects, as construction of
Iran-Armenia railroad, creation of high-capacity irrigation system,
construction of Zvartnots airport, etc.
Besides, Bagratyan expressed concern over the possibility that the AMD
pension assets may later cause tenseness at the fO...reign exchange
market of the country, as the government will be have to transfer
them into dollars.
From: A. Papazian
PanARMENIAN.Net
July 20, 2010 - 13:27 AMT 08:27 GMT
Former prime minister of Armenia Hrant Bagratyan said that the
legislative package of pension reforms have not been thoroughly
discussed by the Armenian parliament.
"Members of the parliament either did not want to go into details,
or they do not understand anything, as the package is rather complex,"
Bagratyan told a press conference in Yerevan.
The former prime minister expressed his opinion concerning
implementation of pension reforms in the country, saying that the
pension amount should have a nominal value and make 30% of the
average salary, as if this ratio exceeds the average salary, people
are deprived of the stimulus to work. As for the compulsory funded
component, Bagratyan is against its introduction.
He criticized the government for the fact that the pension assets,
which it is going to collect from the population (around $800mln),
will be transferred to managers chosen by the government. "As a
result, new oligarchs owning pensions assets will appear in Armenia,"
noted Bagratyan.
Besides, he said that the legislative package of pension reforms
provides with the opportunity to invest in securities of developed
countries, what will result in outflow of funds from the country.
Meanwhile, according to him, the pension assets should stay in the
country to be invested in such huge projects, as construction of
Iran-Armenia railroad, creation of high-capacity irrigation system,
construction of Zvartnots airport, etc.
Besides, Bagratyan expressed concern over the possibility that the AMD
pension assets may later cause tenseness at the fO...reign exchange
market of the country, as the government will be have to transfer
them into dollars.
From: A. Papazian