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ARMENIA'S ECONOMY COULD BENEFIT DUE TO PRACTICAL STEPS - ARTSVIK MINASYAN
21:16 * 09.12.14
Armenian Revolutionary Federation Dashnaktsutyun (ARF-D) parliamentary
group member Artsvik Minasyan believes that the price rise is unlikely
to exceed 5% by the end of the year.
However, the government must interfere.
"We need a law on wages, which would envisage adjustment - wages and
benefits - to cushion the price rise because it cannot be neutralized,"
Mr Minasyan told Tert.am.
With respect to the Armenian premier's statement on a 5% price rise,
he said:
"We import most products, which implies high-level dollarization in
Armenia. The second reason is that even home-made products are linked
to the prices for imported products, which has its impact on prices.
My analyses show that the targeted price rise will be within 5%-5.5%.
However, the government must interfere. We need a law on wages,
which would envisage adjustment - wages and benefits - to cushion
the price rise because it cannot be neutralized. The Central Bank
must implement a mid- and long-term policy and be ready to continue
its intervention policy if needed."
One more factor is that AMD depreciation must be accompanied by
structural economic changes, promotion of investments. Otherwise,
it cannot promote economic growth.
Economic entities must be sure of protection of reinvestments.
Finally, export should dominate Armenia's trade balance.
With respect to exports, Mr Minasyan said that numerous programs are
on the agenda, and Armenia's government is taking steps to ensure
the export of Armenian products to foreign markets.
"Secondly, many of our producers import raw materials, but foreign
exchange rates have their impact on import. And a decline in money
transfers has its negative impact."
http://www.tert.am/en/news/2014/12/09/artsvik/1531042
21:16 * 09.12.14
Armenian Revolutionary Federation Dashnaktsutyun (ARF-D) parliamentary
group member Artsvik Minasyan believes that the price rise is unlikely
to exceed 5% by the end of the year.
However, the government must interfere.
"We need a law on wages, which would envisage adjustment - wages and
benefits - to cushion the price rise because it cannot be neutralized,"
Mr Minasyan told Tert.am.
With respect to the Armenian premier's statement on a 5% price rise,
he said:
"We import most products, which implies high-level dollarization in
Armenia. The second reason is that even home-made products are linked
to the prices for imported products, which has its impact on prices.
My analyses show that the targeted price rise will be within 5%-5.5%.
However, the government must interfere. We need a law on wages,
which would envisage adjustment - wages and benefits - to cushion
the price rise because it cannot be neutralized. The Central Bank
must implement a mid- and long-term policy and be ready to continue
its intervention policy if needed."
One more factor is that AMD depreciation must be accompanied by
structural economic changes, promotion of investments. Otherwise,
it cannot promote economic growth.
Economic entities must be sure of protection of reinvestments.
Finally, export should dominate Armenia's trade balance.
With respect to exports, Mr Minasyan said that numerous programs are
on the agenda, and Armenia's government is taking steps to ensure
the export of Armenian products to foreign markets.
"Secondly, many of our producers import raw materials, but foreign
exchange rates have their impact on import. And a decline in money
transfers has its negative impact."
http://www.tert.am/en/news/2014/12/09/artsvik/1531042