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ARMENIA TO BE CHALLENGED BY EXTREME POVERTY IN 2015 - NEWSPAPER
YEREVAN, November 27. /ARKA/. Resources of the Central Bank of Armenia
will not be sufficient for preventing everyday depreciation of the
national currency, member of the Armenian National Congress party
council, PhD in economy Professor Zoya Tadevosyan said as cited by
Chorord Ishkhanutiun (Fourth Power) newspaper.
She said the central bank is using all the reserves available to
maintain a stable rate by January.
"But the crash after January will be unpredictable", she said.
The expert said "crash" implies serious losses faced in the next
months not only by businessmen, but by ordinary citizens as well.
Tadevosyan also said the ruble depreciation and the losses suffered
by Armenian importers due to the rising dollar will cause serious
effects as prices for commodities are hiking and consumer market is
shrinking at the same time. This situation will, in turn, lead to
reduced economic activity and eventually to increased poverty among
the population, according to Tadevosyan.
"We are in for extreme poverty", the expert said. -0--
http://arka.am/en/news/economy/armenia_to_be_challenged_by_extreme_poverty_in_201 5_newspaper/#sthash.IiKWDj6m.dpuf
From: A. Papazian
YEREVAN, November 27. /ARKA/. Resources of the Central Bank of Armenia
will not be sufficient for preventing everyday depreciation of the
national currency, member of the Armenian National Congress party
council, PhD in economy Professor Zoya Tadevosyan said as cited by
Chorord Ishkhanutiun (Fourth Power) newspaper.
She said the central bank is using all the reserves available to
maintain a stable rate by January.
"But the crash after January will be unpredictable", she said.
The expert said "crash" implies serious losses faced in the next
months not only by businessmen, but by ordinary citizens as well.
Tadevosyan also said the ruble depreciation and the losses suffered
by Armenian importers due to the rising dollar will cause serious
effects as prices for commodities are hiking and consumer market is
shrinking at the same time. This situation will, in turn, lead to
reduced economic activity and eventually to increased poverty among
the population, according to Tadevosyan.
"We are in for extreme poverty", the expert said. -0--
http://arka.am/en/news/economy/armenia_to_be_challenged_by_extreme_poverty_in_201 5_newspaper/#sthash.IiKWDj6m.dpuf
From: A. Papazian