ANC STATEMENT

The Armenian National Congress Bloc states that if they win majority on May 6 they will set to solve two important problems which resulted from the robbery and greed of the regime.1. On 3 March 2009 the Armenian dram devaluated by 25%. At the moment, the deposits of natural and legal persons in the Armenian banks total 560 billion drams, of which 56.7% is in drams. In a single night the deposit holders lost 79.4 billion drams. Commercial banks did not suffer any losses because the government allowed them not to compensate for the loss of deposit holders. The Armenian National Congress is committed to compensate for the losses by boosting their deposits by 12.5% which is half the amount they lost in 2009.2. In 2010 agriculture declined due to draught and the government's inaction. A 15% decline was reported officially, while real decline was 30%. Due to force majeure the farmers were unable to repay the loan money lent on inhuman condition. Instead of real assistance the government sold some seeds, fuel and fertilizers for 10-20% cheaper price. The loans and high interests lied heavily on farmers. If the Armenian National Congress wins majority, loan amnesty will be granted to farmers who have up to 10 ha of land, interest will be zeroed, half through subsidy, the other half by way of lowering prudential economic standards.The Armenian National Congress reminds in its statement that the registration of those citizens whose savings in the Savings Bank were lost continues. The Congress asks to visit the central office or territorial offices of the Congress.

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Headlines for April 26, 2012

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