DEPRECIATION OF THE DOLLAR IS USEFUL FOR IMPORTERS ONLY

KarabakhOpen
15-05-2008 11:12:51

Along with the rise in the price of fuel and foodstuffs the rate of
the dollar is dropping in Karabakh, which sometimes creates major
obstacles for the implementation of government programs.

The depreciation of the dollar jeopardizes the projects of Armenia
Fund part of which are on the verge of failure.

The chair of the NKR National Assembly Committee of Finance and
Budget Benik Bakshiyan says "at first sight the depreciation of the
dollar should lead to dropping prices of food but in our country it
is the opposite."

He said in a talk with us that over the past 3 years the dollar has
depreciated by about 30 percent while the prices of food and fuel have
doubled. "It turns out that the depreciation of the dollar is useful
for importers only. Meanwhile, producers have a disadvantage now. I
am not the first person who brings up this issue but nobody acts,"
the member of parliament said.