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ELECTION FUNDS AND DOLLAR RATE
Naira Hayrumyan
Story from Lragir.am News:
http://www.lragir.am/engsrc/economy26299.html
Published: 15:49:53 - 23/05/2012
In the past few months the rate of the U.S. dollar grew by 20-25. The
dollar has crossed the psychological line of 400 drams. Moreover,
yesterday an unprecedented number of deals were made with the total
amount of 20 million dollars. The usual amount is 5 million, maximum
8 million dollars.
Experts explain this growth by emission of a huge dram amount in new
banknotes which would inevitably lower the rate of the dram.
The growing rate of the dollar explains the 7.2% growth of economic
activity in Armenia compared with the same period of the past year.
The growth is calculated in drams but in the dollar rate, and if it
is recalculated by the dollar rate of the past year, there will be
no economic growth.
The government must be accountable for this economic policy. The
growing rate of the dollar favors exports but if no restraints are
imposed, we will undergo another wave of inflation.
We will have to pay for the elections from our own pocket.
Naira Hayrumyan
Story from Lragir.am News:
http://www.lragir.am/engsrc/economy26299.html
Published: 15:49:53 - 23/05/2012
In the past few months the rate of the U.S. dollar grew by 20-25. The
dollar has crossed the psychological line of 400 drams. Moreover,
yesterday an unprecedented number of deals were made with the total
amount of 20 million dollars. The usual amount is 5 million, maximum
8 million dollars.
Experts explain this growth by emission of a huge dram amount in new
banknotes which would inevitably lower the rate of the dram.
The growing rate of the dollar explains the 7.2% growth of economic
activity in Armenia compared with the same period of the past year.
The growth is calculated in drams but in the dollar rate, and if it
is recalculated by the dollar rate of the past year, there will be
no economic growth.
The government must be accountable for this economic policy. The
growing rate of the dollar favors exports but if no restraints are
imposed, we will undergo another wave of inflation.
We will have to pay for the elections from our own pocket.