GOVERNMENT WILL NOT STAND FOR UNJUSTIFIED PRICE INCREASES – ARMENIAN PREMIER
YEREVAN, December 18. /ARKA/. The Armenian financial market is
stabilizing, and the government will not tolerate unjustified price
increases, Armenia’s premier Hovik Abrahamyan said at a cabinet
meeting on Thursday.
Dollar versus Armenian dram rate hit the eight-year record high on
November 24, having jumped by 16.6 points to 435 drams per $1. It
still shows an upward trend and is 527.20 drams per $1 today.
The premier said he discussed the situation with IMF and the World Bank
representatives, entrepreneurs and heads of agencies the day before.
Armenia’s international partners fully supported the steps taken
by the government to stabilize the financial market situation amid
forex rate fluctuations due to external shocks, the premier said. A
stabilization trend has been recorded since Wednesday’s evening and
it will continue, Abrahamyan said.
The premier expressed concerns over the high margin at exchange
offices and several processes in the consumer market.
In particular, prices for sugar, flour and a number of goods went up
on Wednesday evening, he said.
The premier said he instructed the head of the anti-trust commission
Artak Shaboyan to look into the situation and report to him on a
daily basis. He urged Shaboyan to show strict attitudes toward misuse.
“The government will not tolerate unjustified price increases”,
the premier said. -0–
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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