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YEREVAN. – The Government of Armenia will not tolerate an unjustified price increase, Prime Minister Hovik Abrahamyan stated at Thursday’s Cabinet meeting.

Abrahamyan also instructed Artak Shaboyan, Chairman of the Armenian State Commission for the Protection of Economic Competition, to submit a daily report on the prices of the most-used consumer goods in the country.

In his words, the government is also concerned by the wide gap between the rates of buying and selling of currencies at the exchange offices. The PM, however, expressed the hope that this situation will stabilize very soon.

“We have met with the businesses [in Armenia] as well as with the World Bank and the IMF [i.e., the International Monetary Fund]. The partners support our actions to control the situation under the influence of the external shock factors,” Hovik Abrahamyan added.

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