SOME FORCES CAN USE ECONOMIC SITUATION TO CREATE TENSION IN ARMENIA

PanARMENIAN.Net
04.03.2009 15:07 GMT+04:00

/PanARMENIAN.Net/ "I have mentioned numerous times that we shall
face the problem of hyperinflation. According to my calculations the
dram was supposed to get devalued by 20-30%, and you see the proof
of it now. Such was the assessment of the situation in Armenia given
by an International Monetary Fund representative in his yesterday’s
speech. The dram was to get devalued gradually by 1-2 points daily. In
such case certain measures could have been taken to improve the
situation. But what happened yesterday is a shock for our country’s
economy-the dram inflation by tens of points at a time,"economist
Tatul Manaseryan reported to PanARMENIAN.Net correspondent.

He also said that the situation will first of all affect the
population since the prices on staple goods have boosted. Besides,
Manaseryan added that according to the figures he had about 50,000
people returned to Armenia from abroad. The current situation will
also cause an increase in unemployment.

The way to eliminate the existing problem is through the establishment
of free economic zones, says Manaseryan in his research "Outlines of
New Economic Policy."

When asked how the fall of the dram rate will affect the internal
political situation, Tatul Manaseryan replied that some political
forces may express their radical viewpoints and it will provoke a
tense atmosphere.

The day before, only within several hours, the dollar rate in
Armenia rose dramatically to 360dram per $1, the euro rate reached
440drams. The dollar rate at exchange offices before that had been
305-310 per $1, the euro rate-387 accordingly. The basic reason
for such sudden surge of foreign currencies against the dollar was
the statement made by the head of RA Central Bank, Arthur Javadyan,
according to which the Central Bank of Armenia has made a decision
to limit its interference in the foreign exchange market and to go
back to the policy of the floating exchange rate.

From: Emil Lazarian | Ararat NewsPress