On December 1, 2013, the exchange rate for one US dollar (USD) was AMD 403.9. On March 5 the exchange rate established by the Central Bank of Armenia was AMD 414.4, and the average price per dollar in NADAQ OEMEX exchange of Armenia was AMD 414.54. Currency exchange offices in Yerevan buy dollar at AMD 413.5-414, and sell at 418.
Armenians usually do not pay much attention to processes happening in other countries (especially economic processes). However, now the Armenian society is worried about negative processes with Russia’s economy.
There are many companies operating based in foreign capital. “It is hard to tell whether these sanctions will be fully applied and what the final results will be. Now a Russian delegation has left for Russia because Russia is a major important of US poultry. Russia is also providing a serious portion of dairy products to Europe. The application of sanctions against Russia will be a two-point sword for the international community,” mentioned Suzdaltsev.
A few days ago during the session of the NA standing committee on economic issues the RPA chair of the committee Vardan Ayvazyan spoke against the initiative of the ARF to establish an ad hoc to investigate through Nairit by mentioning that this is not the right time as negotiations are still pending.
In fact this slammed the Armenian government, which has committed to follow a policy of economic reforms, improving Armenia’s positions in international rating reports. The government explains the reduction of investment volumes in Armenia with global financial crisis and other related processes, and they assure that the adoption of a pension fund reform will help them to generate long money to fuel the economy. In fact billions have been taken out of this country, which needs every dollar so much.
Wasn’t this the best forum to speak about the perks and benefits of the new reform and devastate the counter-arguments of all opponents on the matter? And so Sargsyan spoke. The text of the speech amounted to 7 pages (A4 format, Sylfaen, fonts 12 and no spaces). This would mean a lengthy speech, which would give an answer to all the questions. The Premier first spoke about the necessity of applying the new reform.
The main justification of the pension reform is that the government promises decent pensions to senior citizens. But is it really so? Let us try to understand how much an average pension will be due to the new pension system. For the calculation let us pick the recent figures.
This once again comes to prove that the state treasury needs money very badly. As you see the statement doesn’t bring up the sanctions that can be possibly applied. It means that this statement was made as vaguely as possibly in order not to contradict the decision of the constitutional court.
Our main goal was to avoid war. At present there is a little threat of a big war. But we need to accept that we need a big change necessity. But there is a big need of revolutions and it is the problem of the elite to reach this impulse to the Republicans and the rest of the parties. If this goes on the situation is going to be worse in 20-30 years. The rest of the steps depend on who the leader is.
The remaining amount after tax is 75,600 drams. The compulsory pension fund payment that is 5 per cent is not calculated on this amount but on the gross salary, i.e. 100,000 drams. In this case it is not 5 per cent but 6,6 per cent of the net salary.
