ECONOMIC REGULARITIES ARE BEYOND MYSTERIES

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[06:20 pm] 20 June, 2006

The vibrations of dollar-dram rates are initiated by 4 oligarchs. The
invitees of the "Mirror" club attempted either to affirm or to refute
this rumor.

Tatul Manaseryan, economist and deputy of "Justice" bloc announced that
there is no smoke without a fire but he preferred professional approach
to the matter to revealing any names. He assumes that the vibrations
of dollar-dram rates are mainly determined by 4 factors. "These are
the vibrations of currencies in the international market, dollar-euro
vibrations, the sums flowing to Armenia and the subjective factor-
artificial devaluation." According to the economist only the analysis
of these 4 factors will reveal the real economic growth.

Mr. Manaseryan also referred to the indexes of the inflows and outflows
of the country and noted, "The balance between them is negative,
the currency overflow is larger."

Secretary of Republican Party Gagik Meliqyan found Mr. Manaseryan’s
opinion professional and admissible.

Gagik Meliqyan preferred speaking of dram-dollar vibrations taking
into account the so-called subjective factor. "Separate ceremonies
held in smaller and economically undeveloped countries may have their
direct impact on the currency rate and its dynamics." He illustrated
"The Last Ring" as an example. "Dollar devaluation is evident just
after "The Last Ring" and "New Year" celebrations. Making use of
this certain banks, organizations and currency exchanges have their
subjective influence on the dram devaluation and get large income
from the vulnerable stratum of society. "

Economist Tatul Manaseryan didn’t share Gagik Meliqyan’s opinion in
all issues and noted, "By economic regularities we can hardly explain
the mysteries we counter."