YEREVAN. – The oligarchs of Armenia can be sobered up in one minute.

Economist, former MP, and non-pro-government Prosperous Armenia Party member Vardan Bostanjyan told the aforementioned to reporters on Monday.

As per Bostanjyan, the Armenia-based oligarchs’ present-day demeanor against the country’s economic interests is due to the inaction by the Armenian authorities, and not the strength of the oligarchs.

“If the state ‘squeezes’ the oligarchs, their trace will no longer remain in the country. If they [the oligarchs] exist, this means that the state allows them to exist,” the economist stressed.

The former MP also noted that oligarchy reduces the competitiveness of Armenia.