Ministers of economy block prefer US dollar

Newly appointed Minister of Economy Suren Karayan and Minister of Finance Vardan Aramyan haven’t filled the declarations of property and income from the day of assuming their positions.

Instead, the website of the Commission on Ethics of High-Ranking Officials of Armenia has issued annual declarations of these officials for 2015, which they provided while assuming other positions (Suren Karayan as Minister for International Economic Integration and Reforms, Vardan Aramyan as the Deputy Chief of Staff of the RA President’s Office).

These persons aren’t millionaires and regarding financial resources they’ll interest reporters less. However, in the declarations of these two Ministers there is one noteworthy circumstance, both have “inclined” to US dollar in the period of last year.

Thus, Minister of Economy Suren Karayan declared AMD 22.5 million financial resources in early 2015 (there are no other resources in other currency). And by the end of that year he declared USD 52 thousand (he didn’t declare financial resources in Armenian drams). Thus, Suren Karayan has changed his savings to US dollar.

From more “complicated,” but productivity perspective Vardan Aramyan has chosen more proper way. In early 2015 he declared AMD 16 million and USD 10 thousand. In late 2015 the total amounted AMD 1 million (he didn’t declare any resources in US dollar).

Pursuant the declaration Aramyan didn’t purchase any property. And what happened to his financial resources? Aramyan has provided them as borrowing.

In the beginning of the year Vardan Aramyan provided borrowing comprising AMD 3 million, which throughout the year has been returned. And by the end of the year he already declared provided borrowing amounting USD 52 thousand, i.e. Vardan Aramyan has changed financial resources on his account and the returned AMD 3 million to US dollar and together with the USD 10 thousand invested in the bank as dollar deposit (to all probabilities).

Thus, in the period of 2015 the Finance Minister declared AMD 817 thousand as percentage for the provided borrowing or compensation.

Of course, there is nothing bad in this: anyone is free to decide where and in which currency the savings should be kept. It’s worthy reminding that those responsible for the economy block have repeatedly called Armenia’s citizens to keep savings in national currency.