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DECLINING RUBLE TO IMPACT ON ARMENIA'S ECONOMY - OPINIONS
11:38 * 18.09.14
Armenian economists make pessimistic forecast about the declining
Russian currency's impact on the domestic economy.
Speaking to Tert.am, Vardan Bostanjyan and Zoya Tadevosyan said they
expect the dramatic downfall of the Ruble to have negative implications
for Armenia.
"Reduced transfers will be among the leverages in the relations
with Armenia," said Tadevosyan, a member of the opposition Armenian
National Congress.
"Russia's imports have topped the exports in the recent months, so
there was no negative balance. But there will be in the coming months,
as the devaluation of the Ruble in Russia will cause a surge in the
prices of goods."
Tadevosyan described the possible wider gap between the unsatisfied
demand and supply as a major factor likely to lead to a market surge.
"The increased prices will affect the consumer goods, causing a decline
in the real salary rate," she said, pointing out to a possible decrease
in the amount of transfers.
Noting that Russia is Armenia's number one trading partner, the
economist said she expects the surge to boost the Russian exports,
simultaneously affecting Armenia's domestic market.
"The outcomes will be definitely negativs, as our economies are
closely attached. So we will experience the impact of the changes,"
Tadevosyan said.
Vardan Bostanjyan (Prosperous Armenia party), for his part, made
forecasts on possible impacts on the Russian transfers.
"With the devaluating Ruble, our economic situation will deteriorate,"
he said, further elaborating on the causes. "One will have to do with
the form of private transfers, and the other - with all the spheres of
activities that the Armenian economy carries out while remaining within
the range of the Russian Ruble," he said, adding that he expects the
reduced private transfers to account for the major part of the losses.
http://www.tert.am/en/news/2014/09/18/Bostanjyan-tadevosyan/
11:38 * 18.09.14
Armenian economists make pessimistic forecast about the declining
Russian currency's impact on the domestic economy.
Speaking to Tert.am, Vardan Bostanjyan and Zoya Tadevosyan said they
expect the dramatic downfall of the Ruble to have negative implications
for Armenia.
"Reduced transfers will be among the leverages in the relations
with Armenia," said Tadevosyan, a member of the opposition Armenian
National Congress.
"Russia's imports have topped the exports in the recent months, so
there was no negative balance. But there will be in the coming months,
as the devaluation of the Ruble in Russia will cause a surge in the
prices of goods."
Tadevosyan described the possible wider gap between the unsatisfied
demand and supply as a major factor likely to lead to a market surge.
"The increased prices will affect the consumer goods, causing a decline
in the real salary rate," she said, pointing out to a possible decrease
in the amount of transfers.
Noting that Russia is Armenia's number one trading partner, the
economist said she expects the surge to boost the Russian exports,
simultaneously affecting Armenia's domestic market.
"The outcomes will be definitely negativs, as our economies are
closely attached. So we will experience the impact of the changes,"
Tadevosyan said.
Vardan Bostanjyan (Prosperous Armenia party), for his part, made
forecasts on possible impacts on the Russian transfers.
"With the devaluating Ruble, our economic situation will deteriorate,"
he said, further elaborating on the causes. "One will have to do with
the form of private transfers, and the other - with all the spheres of
activities that the Armenian economy carries out while remaining within
the range of the Russian Ruble," he said, adding that he expects the
reduced private transfers to account for the major part of the losses.
http://www.tert.am/en/news/2014/09/18/Bostanjyan-tadevosyan/