YEREVAN. – A compromise on increase in electricity price will also lead to negative results, economist Gagik Makaryan told reporters.

If electricity price for consumers will rise to 6.93 drams, the solvency of the population and business competitiveness will fall, said Makaryan, Chairman of the Republican Union of Employers of Armenia.

Electricity prices in Armenia have increased by 6.93 drams kWh as of August 1. The subsidization of the price hikes by the government will continue until Deloitte & Touche CIS consulting firm submits conclusions. The company will analyze the country’s energy system, and provide the government consulting on energy management.