YEREVAN. – The weakening of the dram—the national currency of Armenia—has quite a lot of negative consequences, but positive, too. The positive, for example, is that it promotes exports.  

Ruling Republican Party MP, businessman Manvel Badeyan told the aforesaid to Armenian News-NEWS.am.

He noted that the ongoing increase in the exchange rate of the US dollar in Armenia has had a negative impact on his business, too. He added that he has not yet calculated his resultant losses.

According to the information that has been disseminated, Armenia’s businessmen, who are in a grave situation these days, plan to meet with Prime Minister Hovik Abrahamyan to discuss the current situation in the country. Badeyan, however, stated that has not heard about this.

“The exchange rate of the dram does not change by the government decisions; it is determined in the market,” the businessman deputy said.   

And to the query as to whether he is not concerned that the present-day inflation in Armenia will lead to a wave of nationwide protest, Manvel Badeyan responded: “The elections are the nationwide, and the authorities were elected in these elections.”