Friday, January 27 2012 17:51
Armenian economist: Sufficient control over oligarchs' self-will is needed to fight inflation
ArmInfo. The monetary policy of the Central Bank of Armenia (CBA) has changed and become more effective, but the megaregulator is unable to temperate the abrupt price growth all by itself, Tatoul Manaseryan, a well-known Armenian economist, the founder of the "Alternative" Analytical Center, said at a press conference in Yerevan. According to him, the Government should revise its approaches to the fight against inflation: it should establish sufficient control over the self-will of oligarchs who continue dictating their prices in the food market.
Manaseryan pointed out that in 2011 the Government took several steps to fight the self-will of the oligarchs. In particular, several new fairs were created. However, due to the insufficient control of the regulative mechanisms, these steps failed to give the expected result. The economist said that the villagers are forced to yield their products to the oligarchs, who resell them at much higher prices. "As a result, both the villagers, who do not receive enough income, and the consumers, who do not buy expensive products, suffer", he said.
He recalled that in a number of developed countries the state conducts a policy of competitive prices in the agriculture market when nobody is able to dictate their own prices.
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