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"It's Just A Shame That The "Carrefour" In Armenia Can Not Open Its

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  • "It's Just A Shame That The "Carrefour" In Armenia Can Not Open Its


    February 18 2014

    In the conversation with, political scientist Gagik
    Hambaryan, referring to the assessments made by the President of
    Armenia at the VHD Union Board session regarding the economy, expressed
    the opinion that the development of our economy is more hampered by
    subjective reasons. "I'm not an economist, I do not want to turn to
    the numbers voiced by the President, but being an ordinary citizen of
    the Republic of Armenia, I must say that our economic problems today
    are more subjective in nature than objective. Just the fact that we
    have oligarchic, and monopolistic economy in Armenia, it is enough
    for the level of our economic development be quite low.

    Secondly, it is very strange that the leadership of our country does
    not refer to the shameful situation existing in the banking system,
    when in not any normal country of the world, developed or developing,
    there is no 18-24 percent annual interest rate. I ask you, where
    do you take these figures from? The authorities in Europe, Russia
    and in majority of the former Republics of the Soviet Union, or the
    businessmen sponsored by thereof take money from European largest
    banks at 0.8 to 2 percent annual interest and give it to banks at 5-6
    percent. The banks give the money to citizens at 2 times more, i.e.,
    10-14 percent. The situation in the Republic of Armenia is completely
    different, the banks receive up to 10 percent and give out to the
    population at 18-24 percent annual interest. It goes without saying
    that 60-70 percent of the people should not be able to pay these
    loans. As a result, they lose their property placed as a collateral
    to the bank, which we see now. It also brings out the fact that most
    of the money does not serve the goal of economic development. There is
    such a thing. It would be good for the President of the Armenia to pay
    attention to the banking sector and monopolies," says the political
    scientist. According to him, it is just a shame that one of the world
    famous French "Carrefour" hypermarket chain is not allowed to open
    a store in Armenia. "There is no even "McDonalds" in the Republic of
    Armenia. It is really a shame. And do you know why it is a shame?

    These are global brands, the activities of which in the Republic
    of Armenia can be an incentive for other investors to make their
    investments in our country, too. I am certainly not saying that our
    fast food industry is on a very low level. No, it is in very good
    condition, but let this "McDonalds" also be, why not? Why should
    "Pepsi" be, why should "Coca-Cola" be, but not "McDonalds". Or, they
    do everything for Carrefour to abandon the idea of opining its chain
    of stores in the Republic of Armenia, it would be just a shame for our
    country. You see, even the Ambassador of France to Armenia interferes
    in this issue, as I see from the side, the Ambassadors of other
    countries to Armenia are getting involved in the matter. It's a shame,
    isn't it? To open a store, we allow the issue be settled at the level
    of European ambassadors. Is it something new?" says Gagik Hambaryan.


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