Time in Yerevan: 11:07:36,   20 March

President Sargsyan tasks to find out if price rise is justified or result of greediness

YEREVAN, JANUARY 10, ARMENPRESS. President of Armenia Serzh Sargsyan expects strict monitoring of price rise of separate products from agencies responsible for ensuring free and fair competition. ARMENPRESS reports Serzh Sargsyan stressed during the consultation convened to discuss price rise and measures to mitigate its consequences that the state possesses all the necessary toolkits to conduct a strict monitoring.

President Sargsyan demanded that apart from speaking about the objective causes or justifications of price rise to present also solutions aimed at alleviating the consequences of price rise and to keep the public informed about the processes in the consumer markets. “During the last weeks price fluctuations of some products of the consumer market have become a subject for broad debates and concerns. For this reason I referred to this issue during my interview on December 12 and received responds from you that those fluctuations are mainly conditioned by price fluctuations in the international markets”, President Sargsyan said.

President Sargsyan drew the attention of the participants of the consultation on three factors. “The first factor is the following. Market economy exists in Armenia and the state does not intervene in pricing processes, but we have an obligation to establish an atmosphere, a competitive atmosphere which might be one of the key factors for fair regulation of prices. Second, we have a full toolkit to observe the activities of the dominant entrepreneurs. And the third, we have many levers to find out if the fluctuations in the markets are really results of objective processes or a result of greediness of entrepreneurs”.

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