Economist: Situation is really bad in Armenia (video)
The Central Bank is doing its utmost to prevent price fluctuations caused by the devaluation of the Armenian Dram. I am surprised how the CB succeeds in doing that, economist Vardan Bostanjyan said on February 17. He says people need not panic if the dollar exceeds the ‘psychological’ threshold of AMD 500. “It should be done neatly and smoothly to avoid shocks in the economy. The sharp devaluation of the Armenian currency can cause great strain, which needs to be averted,’ the economist said today. Vardan Bostanjyan says he is most concerned about the state of the country’s economy The situation is really bad. I think we need to ask ourselves whether we have economy as such. The state budget does not foresee any increase in pensions and salaries. I think this gives rise to concerns,” he said. Mr Bostanjyan stresses the importance of ‘delicate policy’ that will help to take the country out of this grave situation. “If after the sanction Iran increased the volume of exports to Russia neglecting Armenia, we should not blame Iran. We need not wait for other countries to make proposals to us, we should show initiative and make our proposals to them.”
