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October 19
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YEREVAN. – President of Armenia Serzh Sargsyan held a meeting on Wednesday to discuss the decisions targeted at possible mitigation of the consequences of price hike for consumers goods.

President told the minister they are responsible for securing free and fair competition for business entities. President said he expects them to carry out the strictest monitoring of the growth of prices for individual goods.

“Fluctuation in prices for some consumer goods have been the focus of the public interest during the recent weeks,” Sargsyan said. “Obviously, market relations operate in Armenia, and the state does not interfere in pricing processes. But, firstly, we have an obligation to form a competitive environment, which is probably one of the key factors in the fair regulation of prices. Secondly, we have a full-fledged tool for studying the activities of business entities that occupy a dominant position in the market. And, thirdly, we have numerous levers to get an answer to the question: are fluctuations in the markets the result of objective processes, or the reasons are the greed of business entities?”

Any citizen of Armenia has the right to have clear information about the reasons, President emphasized.

Following the meeting, the President gave a number of instructions, in particular, he instructed the government to form a list of socially important goods and to study the dynamics of these products, represent objective and subjective factors that affect prices, assess the risks of price hikes, and suggest measures to mitigate the impact of price hike.

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