Economist: Many in Armenia live in abject poverty (video)
The price mechanism in Armenia is not subject to any regulations, says economist Vardan Bostanjyan. “There is a polarization of incomes in Armenia. Few in the country have made wealth for themselves, others live in abject poverty,” he said on Monday. In this context, the economist finds it ridiculous that poverty allowance is AMD 17 000 per month. “Naturally, no one can live on that sum. Even if the money were raised to AMD 100,000, it will not ease the burden of vulnerable citizens. Vardan Bostanjyan reminds that 80 percent of residents are very restrained in their lifestyles and the minimum consumer basket should constitute AMD100 000-150 000. Speaking about the economic development in the country, the economist stressed that this year the farmers have had a good year in terms of export volumes.
