TIGRAN SARGSYAN CAN WAGE A WAR

On October 16 the fluctuations of the exchange rate of the dollar and its impact on common citizens were discussed at the National Assembly on the initiative of the Finance and Budget Committee and at the Armenia Marriott Hotel by the anti-criminal movement. The forces which are against the loan and monetary and the economic policies of the government had not been invited to the parliamentary hearings, whereas everyone, including the government was invited to the public debates. The only representative of the government was Vardan Aramyan, the Central Bank executive in charge of foreign economic relations. Instead, the opposition, namely Artashes Geghamyan and Hmayak Hovanisyan attended and addressed both. Moreover, Artashes Geghamyan was the main speaker in the public debates.
The leader of the National Unity Party Artashes Geghamyan relied on official statistics to prove that the revaluation of the dram is artificial, black economy is a significant part of the economy.
According to Geghamyan, in 2001 one U.S. dollar was 555 drams, the growth of the GDP was 109.6 percent, in 2002 one dollar was 573,35 drams, the growth of the GDP was 112.9 percent, in 2003 one dollar was 578.77 drams, the growth of the GDP was 113.9 percent, in 2004 one dollar was 533, the growth of the GDP was 110.1 percent.
“In other words, our government bluffs when it states that the revaluation of the dram is determined by the economic growth. The importers benefit from this situation. Meanwhile, imports are a monopoly, and only Robert Kocharyan’s and Serge Sargsyan’s aides have the right to import goods,” stated Artashes Geghamyan and explained the reasons. “They spent a lot on the presidential and parliamentary elections in 2003 and they found a unique way of bringing the money back – robbing people.” Geghamyan presented other figures as well: balance of trade, imports, exports, and finally he concluded that an outflow of dollar amounts from Armenia was reported, the dollar amount in Armenia has declined, consequently the price of the dollar should go up, Armenia could not have caught the Dutch disease when there is a large influx of foreign currency. Meanwhile, our government “disregarding the economic indices, cause an artificial deficit of the dram and supply a dram amount which is four times less than the required dram amount.”
Artashes Geghamyan deviated from the topic and noticed that 105 billion drams were not returned to the budget, “This money was misappropriated by the oligarchs working in the shade of the government.”
There was more criticism against the government, connected with building up in Yerevan, Armentel, Electricity Network of Armenia. Afterwards, Geghamyan noticed that after every such case of robbery they sell the company to erase the traces, like the Electricity Network and Armentel. And the Central Bank “allegedly cuts down on inflation but conceals the robbery of hundreds of million dollars. If Tigran Sargsyan repeats what I am saying a war will ignite between the Central Bank and the government. But they will not allow a war because the war will reveal the robbery they feed on,” stated the president of the National Unity. In fact, the only representative of the government was Vardan Aramyan. He delivered a lecture and announced that the Central Bank of Armenia chose the floating exchange rate of the dollar among several options known to the world economy. However, our Central Bank fails to cut down on inflation but Vardan Aramyan did not say anothing about this. Consequently, the war forecast by Artashes Geghamyan will not start.

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