EX-PREMIER: MOST PART OF ECONOMIC, POLITICAL RESOURCES OF ARMENIA CONCENTRATED IN HANDS OF SEVERAL FAMILIES

ARKA News Agency, Armenia
June 14 2007

YEREVAN, June 14. /ARKA/. Most part of the economic and political
resources of Armenia is concentrated in hands of several families,
Chairman of "Freedom" party ex-Premier of Armenia Hrant Bagratian
told journalists.

If in USA 400 richest people control 10% of GDP of the country, in
Russia 40 families own 16% of GDP, then in Armenia 58% of the country’s
GDP appeared in the hands of only 44 families, Bagratian said.

"In Soviet times we feared a total equality, now we found ourselves in
conditions of total inequality. In 15 years this inequality showed up
more strikingly than in democratic countries having 400-year history
of development," Bagratian said. He also added than over last 10 years
the gap between the rich and the poor increased by 7 times in Armenia.

"The authorities claim new jobs are opened in the country, whereas
according to the official statistics, over the last five years the
number of jobs decreased down to 1.1mln as compared to 1.5mln jobs
in 2001," Bagratian said.

The ex-Premier doubted the data of the National Statistical Service
according to which the total wages fund makes 70% of GDP in Armenia
with the total profit making 30% of GDP.

"In Georgia wages constitute 60% of GDP with the profit making
40%, whereas Armenia has the lowest level of wages in the region,"
Bagratian said.

According to Armenia’s National Statistical Service, the economic
growth in the country made 5.9% in 2000, 9.6% in 2001, 13.2% in 2002,
14% in 2003, 10.5% in 2004, 14% in 2005 and 13.4% in 2006.

GDP per capita made $1,989 in Armenia in 2006 against $593 in 2000.

$2,558 GDP per capita is to be achieved in 2007.