MP: ARMENIA IS IN NEED OF EFFECTIVE SYSTEM FOR CONTROLLING UNJUSTIFIED INCREASE IN PRICES

ARKA News Agency
Oct 24 2007
Armenia

YEREVAN, October 24. /ARKA/. Armenia is in need of an effective system
for controlling unjustified increase in prices, Republican MP Eduard
Sharmazanov said at Tuesday’s parliamentary session.

He thinks the government would pay greater attention to abuses
committed by economy entities and a control system is to be created
in the country for preventing unjustified rise in prices.

Sharmazanov doesn’t rule out world processes’ impact on prices in
Armenia, but says that economy entities’ joint unfair actions add a
great deal to that.

He pointed out that prices for commodities in Armenia grew 80% while
Europe faced 20-percent increase.

"Some foods prices grew several times while in world markets, those
very products became cheaper", the lawmaker said. In his opinion, the
government must work out effective mechanisms and launch crackdown
on the actions taken by unfair entities. The authorities must stop
those who take advantage from the situation and "impose their prices".

Sharmazanov added that the fines levied on such companies are small,
and they "don’t bar the entities from repeating these scenarios".

Another MP from Republican Party of Armenia, Hermine Naghdalyan, shared
Sharmazanov’s opinion saying the government must deal with the problem.

In September 2007, 0.2% deflation was recorded in Armenia. Consumer
prices grew 0.7% in September, compared with the previous month.

Consumer prices index was recorded at 102.7% in September 2007,
compared with the same months of the previous year.

Food prices index, including alcohol and tobacco, made 103.8% in
September 2007, compared with the same month of 2006. 3.8% inflation
was recorded in Jan-Sept 2007, compared with the same period a year
earlier, of which foodstuff prices index made 104.8%. -0—

From: Emil Lazarian | Ararat NewsPress