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Haykakan Zhamanak : How will Armenia's new pension system function if
country enters ruble zone?
October 23, 2013
YEREVAN. - The mandatory accumulated pension system will be introduced
in Armenia on January 1, Haykakan Zhamanak daily reports.
`There is already a wave of discontent brewing in Armenia in
connection with the introduction of this new system.
`But as of September 3 of this year, a problem has emerged that is not
discussed. The new pension system is designed for an Armenia that has
its own currency and conducts its own monetary policy.
`But on September 3, it was found out that Armenia is going to the
Customs Union. And the Customs Union is the first phase of the
Eurasian Union, which assumes a common currency; that is, Armenia will
enter a conditional ruble zone.
`How will the new pension system [of Armenia] function under these
conditions? Our reporter tried to get this question's answer from
Labor and Social Affairs Minister Artem Asatryan, but to no avail,'
Haykakan Zhamanak writes.
To note, following the talks that were held on September 3 in Moscow
between Armenian and Russian Presidents Serzh Sargsyan and Vladimir
Putin, Sargsyan had announced that Armenia plans to join the Customs
Union and subsequently engage in the formation of the Eurasian
Economic Union. Aside from Russia, Belarusand Kazakhstan likewise are
members in the Customs Union. And in response to this development, the
European Union had stated that the signing of the Armenia-EU
Association Agreement and the Deep and Comprehensive Free Trade Area
agreement is now doubtful.
News from Armenia - NEWS.am
country enters ruble zone?
October 23, 2013
YEREVAN. - The mandatory accumulated pension system will be introduced
in Armenia on January 1, Haykakan Zhamanak daily reports.
`There is already a wave of discontent brewing in Armenia in
connection with the introduction of this new system.
`But as of September 3 of this year, a problem has emerged that is not
discussed. The new pension system is designed for an Armenia that has
its own currency and conducts its own monetary policy.
`But on September 3, it was found out that Armenia is going to the
Customs Union. And the Customs Union is the first phase of the
Eurasian Union, which assumes a common currency; that is, Armenia will
enter a conditional ruble zone.
`How will the new pension system [of Armenia] function under these
conditions? Our reporter tried to get this question's answer from
Labor and Social Affairs Minister Artem Asatryan, but to no avail,'
Haykakan Zhamanak writes.
To note, following the talks that were held on September 3 in Moscow
between Armenian and Russian Presidents Serzh Sargsyan and Vladimir
Putin, Sargsyan had announced that Armenia plans to join the Customs
Union and subsequently engage in the formation of the Eurasian
Economic Union. Aside from Russia, Belarusand Kazakhstan likewise are
members in the Customs Union. And in response to this development, the
European Union had stated that the signing of the Armenia-EU
Association Agreement and the Deep and Comprehensive Free Trade Area
agreement is now doubtful.
News from Armenia - NEWS.am