YEREVAN, SEPTEMBER 14, ARMENPRESS. Economist Vardan Bostanjyan thinks that the US dollar exchange rate needs to be increased substantially, bringing it to 540-560 drams per one dollar which will foster business activities.  The economist informed about this in an interview with journalists. “Armenpress” reports that according to him, imports have always exceeded exports in Armenia but the high level of exports of agricultural products of this year ensured some progress in terms of increasing the volume of total exports.

Vardan Bostanjyan referred to the question whether the policies conducted by the Government of Armenia to foster local production are favorable within the framework of EAEU, “Armenia not only has experience regarding local production but made much success during the last decades. I assure you that Armenia has leading position among former Soviet area in different spheres such as mechanical engineering, instrument-making, machine-tool industry, cable manufacturing, mining, light industry”.

According to the economist, people below poverty line are most vulnerable to devaluation of the ruble and dram. In this context, speaking about poverty indicators, Vatdan Boastanjyan mentioned that under present conditions the minimum consumer basket per person should reach 100-120 thousand.