ArmInfo. A stable financial rate does not yet mean stability, it is a limitation of the potential for economic growth.
A similar opinion was expressed by Professor, Doctor of Economics, Chairman of the Academic Council of the Institute of Economics and Business of the Russian- Armenian University, former Minister of Finance of the Republic of Armenia Edward Sanoyan during the "Economics of Russia and Armenia in a New Reality: Challenges and Prospects" international scientific conference on April 29.
He stressed that from February 16 to this day, the Russian ruble has revaluedby 3.9%, and the dram by 5%. In this regard, Sandoyan noted with irony that the Armenian dram is the most stable currency today. , the economist noted.
Noting that under the embargo, Russia will open up unexpected niches for Armenian goods, but the purchasing power parity in Armenia is worse than in any other post-Soviet country. In this regard, he added that Armenian goods are inferior in terms of competitiveness to the same Uzbek, Georgian, Moldovan, etc. , Sandoyan said.
In this regard, the economist shared his impressions of the work of the Central Bank, expressing his conviction that perhaps "the last monetarists in the world remained only in the Armenian Central Bank."
He also touched upon the stock market of Armenia, immediately syronizing, recalling the lines from the good old song "If you don't have an aunt, then you won't lose her." In this regard, the expert spoke about the speech of the representatives of the Armenian authorities during the crisis of 2008-2009, during which it was announced with approval that there was no capital market, since all countries that had it were in a deep crisis. , he stressed.
In this regard, Sandoyan asked why the circulation of securities, for example, Russian issuers, is prohibited on the Armenian stock exchange, listing cannot be recognized, why shouldn't VTB bank function as a branch, instead of subsidiary, or if there are several such banks, why is it impossible to sell insurance policies of Russian insurance companies in Armenia, etc.?
If all these issues are resolved, according to Sandoyan, Armenia will forever eliminate the problem of financing economic development. At the same time, he stressed that these are issues that do not take much time to resolve, but this can radically change the situation.
