ARTSVIK MINASYAN: INFLATION "EATEN UP" INCREASES IN PENSIONS AND BENEFITS

PanARMENIAN.Net
April 5, 2010 – 17:07 AMT 12:07 GMT

The growth in pensions and benefits in connection with the increase in
gas rates is a small positive step, however cannot be radical solution
to inflationary pressures, Artsvik Minasyan , Deputy Chairman of the
NA Standing Committee on Financial, Credit and Budgetary Affairs,
ARF Dashnaktsutyun member told a news conference on March 5.

"Inflation has "eaten up" all these increases in pensions and
benefits. The government’s wish to overcome the crisis are very
cautious and superficial, " he stressed.

In turn, RA Deputy Finance Minister Vardan Aramyan objected, saying
the expected increase in benefits from May 1 to 3.5 thousand AMD
will not only compensates the rise in gas prices, but also cover the
increasing prices of other products in the conditions of inflation.

"In the minimum consumer basket, equal to 28.8 thousand AMD the share
of utility expenses is 2.6 thousand AMD, including 500 AMD for natural
gas; after the 37.5 per cent increase in gas tariffs it will make
700 AMD," RA Deputy Minister of Finance explained.

From: Emil Lazarian | Ararat NewsPress