WednesdayJanuary 28
  • USD 474.48
  • EUR 536.78
  • RUB 7.01

Armenia’s economic model is a large vacuum cleaner – opposition member

12:37, 28.06.2012 Region: Armenia Theme: Politics, Economics

YEREVAN. – The economic model of Armenia is a large vacuum cleaner which collects all the money in the country and puts it in the pockets of the oligarchs, opposition and former Karabakh Committee member Ashot Manucharyan stated during a press conference on Thursday. 

In his words, this amount subsequently goes to foreign banks, and those oligarchs—even if they build homes in Armenia—bring the stones from abroad.  

“That is, they collect the money in Armenia and spend it abroad, and, consequently, we cannot have great expectations from the Government’s program,” stressed Ashot Manucharyan.

Armenia News -

More in topic

Armenia to join Eurasian Economic Union in the near future

This was noted during a meeting between Armenian and Russian prime ministers in Sochi...

PMs Abrahamyan and Medvedev discuss extending Armenian nuclear plant’s lifetime

The Armenian and Russian premiers conferred on bilateral strategic relations…

Main reason for Armenia’s EaEU accession delay – newspaper

Numerous products will be charged higher duties if they are imported from non-Customs Union countries…

Karabakh president receives American businessmen of Armenian origin

President Sahakyan considered important contribution of the Diaspora to Artsakh’s development...

Armenian PM receives Lebanon's Energy Minister

The sides touched upon the new challenges that Armenian communities are faced with...

Partner news