YEREVAN. – Not every monopoly is harmful to Armenia’s economy, said chairman of Armenian State Commission for the Protection of Economic Competition.

Artak Shaboyan said in the World Bank report on the state of economic competition in Armenia, monopolization of the economy has been calculated taking into account the natural monopolies - gas, electricity and water - where market participants are limited to objective reasons.

One should not draw conclusions about the lack of economic competition in Armenia in general taking into account the example of these industries, he added.

“Of course, there are some markets where the number of business entities is explained not by technical but other reasons. Here, monopolies or a dominant position in the market are not a violation,” Shaboyan emphasized.