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Artsvik Minasyan: Inflation "Eaten Up" Increases In Pensions And Ben

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  • Artsvik Minasyan: Inflation "Eaten Up" Increases In Pensions And Ben

    ARTSVIK MINASYAN: INFLATION "EATEN UP" INCREASES IN PENSIONS AND BENEFITS

    PanARMENIAN.Net
    April 5, 2010 - 17:07 AMT 12:07 GMT

    The growth in pensions and benefits in connection with the increase in
    gas rates is a small positive step, however cannot be radical solution
    to inflationary pressures, Artsvik Minasyan , Deputy Chairman of the
    NA Standing Committee on Financial, Credit and Budgetary Affairs,
    ARF Dashnaktsutyun member told a news conference on March 5.

    "Inflation has "eaten up" all these increases in pensions and
    benefits. The government's wish to overcome the crisis are very
    cautious and superficial, " he stressed.

    In turn, RA Deputy Finance Minister Vardan Aramyan objected, saying
    the expected increase in benefits from May 1 to 3.5 thousand AMD
    will not only compensates the rise in gas prices, but also cover the
    increasing prices of other products in the conditions of inflation.

    "In the minimum consumer basket, equal to 28.8 thousand AMD the share
    of utility expenses is 2.6 thousand AMD, including 500 AMD for natural
    gas; after the 37.5 per cent increase in gas tariffs it will make
    700 AMD," RA Deputy Minister of Finance explained.

    From: Emil Lazarian | Ararat NewsPress
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