YEREVAN. – Large companies could begin shutting down in Armenia.

Chairman of the Republican Union of Employers of Armenia, economist Gagik Makaryan, stated the abovementioned at a press conference on Monday.

In Makaryan’s words, the purchasing power of the country’s population has fallen sharply in recent years, and  as a result, retail trade also has dropped considerably.

“The tax services’ employees need to think about notifying in timely fashion, rather than fining, businesses [in Armenia],” he added.

As per the economist, under competitive conditions, other companies certainly can take up the market sector vacated by the companies that close down; but the remaining companies cannot immediately fill the large gap of the vacated shares in the given market.