“Taking out ruble loans will have an effect of atomic bomb in our economy” (video)
Beer producing “Kilikia” company, which has always worked with profit and exports mainly to Russia, also registered exportation decrease in 2015- 16%. Lawmaker of the Republican Party of Armenia (HHK), owner of “Kilikia” beer factory Hakob Hakobyan told “A1+” that by communicating with his colleagues he came to a conclusion that it is a rather favorable index, “It is, of course, connected with purchasing power of the Russian market. Besides, we have done investments in the Russian market for more than 10 years, and today we have no right to retreat from that business because of suffering losses. In that case we will have to spend even more money for again entering into the Russian market. At present we are established in the market, and we prefer covering today’s losses at the expense of our profits, though, naturally, the profits are reducing. If we have a lot of losses, naturally, we will have to stop our exportation, as you must have at least 15% profit in order to continue the production.” The exportation of beer from Armenian makes up about 19-20% of the volume of the whole goods. By the way, last week Prime Minister Hovik Abrahamyan held consultation with branch ministries and businessmen in order to boost exportation. According to the economic indicators of 2015, we have decrease in exportation of 6 products, which is connected with global economic shocks, the fall of Russian ruble. During this meeting the businessmen also presented projects, which will give a chance to boost the exportation. Hakob Hakobyan personally spoke to Hovik Abrahamyan and presented his version of solving the issue, “Our vehicles always get stuck at Verin Lars checkpoint. This problem must be solved. Prime Minister told me that negotiations are underway connected with that issue. If that problem isn’t solved, we will have problems with exportation.” According to lawmaker Hakob Hakobyan, Armenian products will be more exported to the EEU in particular and there will be fewer losses, if 5 member states adopt single currency, “It doesn’t matter what the name will be. The single currency itself is important. In that case we won’t be dependent on Russian ruble: we will sell using that currency and won’t have losses.” Giving ruble loans was also discussed. To what extent can it be profitable, when ruble is falling day after day? Hakob Hakobyan again highlights the creation of single currency, and he thinks that only in that case taking out ruble loans will be meaningful, “If it doesn’t happen, in current situation taking out ruble loans will have an effect of atomic bomb in our economy. It will be profitable only for exporters and importers from the RF.”
