Friday, January 19 2018 19:34
Alina Hovhannisyan

Public Council of Armenia: Price increase is the result of mistakes made during a long period of time

Public Council of Armenia: Price increase is the result of mistakes made during a long period of time

ArmInfo. In the market of gasoline, diesel fuel and compressed gas, in connection with the increase in prices from the side of entrepreneurs, no abuses were detected. This is evidenced by preliminary results of a study conducted by the State Commission for the Protection of Economic Competition of the Republic of Armenia (SCPEC). On January 18, at the meeting of the Public Council, Arman Manaseryan, the head of the methodology and program development department of the SCPEC, said.

Speaking about fluctuations in international prices, A. Manaseryan noted that, in particular, the price of oil on the international market has fallen, which is gradually taking place in Armenia. And in the next two months, he said, the decline will be more tangible.

Speaking about the increase in prices for a number of goods as a result of changes in customs duties at the EAEU, the representative of the SCPEC stressed that this could have an impact on imported goods within 4%, however, it will not have a significant impact on final pricing. In this regard, he explained that the increase in customs duties observed on the market of such goods, with the production of which there are no problems in Armenia. In this vein, Manaseryan mentioned dairy production.

Vakhtang Mirumyan, deputy chairman of the RA State Revenue Committee, stressed that the adoption of the new Tax Code was not aimed at reducing revenues and is based on a number of important principles, such as promoting economic growth and consolidating the state financial system. According to him, the Tax Code also provides for a number of measures, as a result of which tax revenues in the state treasury are reduced. A representative of the SRC added that the new Tax Code in a number of areas (where diesel fuel is used) will affect, if not positively, at least not have a negative impact. In this context, he noted the freight, mining and construction.

Summarizing the causes and consequences of price increases, the Public Council expressed opinion that the current situation is the result of mistakes made during a long period. According to the source, the meeting participants agreed that the state should assume the role of regulator by developing mechanisms of influence on the economy that must comply with the principles of free market competition and international obligations. At the same time, members of the Public Council stressed the need to create favorable conditions for small and medium-sized businesses and the development of local production.

At the end of the meeting, it was decided to hold highly specialized discussions, inviting economists and industry experts, together with them to develop a package of concrete proposals for assessing the situation with short-term and long-term solutions, which will then be submitted to the government of Armenia.

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10 billion

Volume of T-bills for placement

200 million

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200 million

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200 million

Yield at cut-off price

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Maximum yield

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