Armenian opposition MP puzzled at country's "paradoxical" economic data

1 Mar 05


The increasing volume of imports into Armenia was twice as high as
that of exports in 2004, something that brings about a high level of
Armenia's dependence on foreign countries, opposition MP Tatul
Manaseryan told the parliament today.

Inflation was two and half times higher than it was expected in 2004,
while measures to make the [national currency] drum stronger did not
lead to a logical fall in prices.

"The head of the Central Bank says that the increase in the index of
consumer prices constituted 2.8 per cent in 2004, while official
statistics testify to a 7-per-cent growth. We do not have the moral
right to approve the candidacy of the chairman of the Central Bank
unless answers are given to these paradoxical questions," the MP said.