Steady increase in dollar prices is the consequence of Central Bank’s dram stabilization policy. Bagratyan

The former Prime Minister of Armenia, former Member of the National Assembly Hrant Bagratyan presented an analysis based on statistical data, which shows that the result of the dram stabilization policy of the Central Bank of Armenia is the steady increase in dollar prices for years.

“In 2005, the dollar prices of goods and services in Armenia were higher than in Belarus – 10%, Kazakhstan – 31%, Kyrgyzstan – 52%, Azerbaijan – 55%, Molova – 20%, Ukraine – 20%. At that time, the prices in Georgia were higher than in Armenia by 3.5%, and in the Russian Federation they were higher than in Armenia by 26%. In 2015, the picture changed. RA is the most expensive. Our dollar prices of goods and services were higher than in Belarus – 29%, Kazakhstan – 1%, Kyrgyzstan – 29%, Azerbaijan – 33%, Moldova – 17%, Ukraine – 54%, Georgia – 8%, Russia – 4%.

In 2017, according to me, the situation worsened. All numbers are missing. But it is definitely known that the prices in Georgia are more expensive than in Armenia by at least 20%. This is the result of the Central Bank’s dram stabilization policy. It leads to a steady increase in dollar prices. Meanwhile, it is not necessary to stabilize the dram, but to encourage competition among suppliers of goods and services,” Bagratyan wrote on his Facebook page.