OLIGARCHS TOOK OUT OF ARMENIA AS MUCH MONEY AS THE BUDGET IS

Lragir.am
19/03/10

Representatives of the Armenian major business took out of Armenia
capital the amount of which is growing. On March 19, the Armenian
former Prime Minister Hrant Bagratyan stated about it. He said the
government does not make a step to correct the situation.

`The greater part of the oligarchs took out of Armenia serious
capital. A number, which is approaching the number coming from abroad.
In other words, the country borrows some money and gives it to the
citizens. The oligarchs import goods and sell them to people taking
the money in their hands. Then, they take that money abroad by buying
real estate’, says Hrant Bagratyan.

According to him, disaster for Armenia will start in 2013, when we
will need 500 million dollar in the budget to be able to pay the debt
off. Today we have a budget of 2, 5 billion, 500 million is more than
our expenditure for army, says Hrant Bagratyan. He adds that the
government makes mistakes even when borrowing.

In answer to reporters’ request to predict the exchange rate, Hrant
Bagratyan said that in case the government leaves the foreign currency
apart, the exchange will be 420-430. If they do not, this exchange
will be preserved for other two three months.