// IP Marketing video - START// IP Marketing video - END

Ex-PM won’t allow for expropriation of pensioners' money

Ex-PM won’t allow for expropriation of pensioners' money

PanARMENIAN.Net - Former Prime Minister of Armenia, a member of Armenian National Congress (ANC) opposition bloc's parliamentary group Hrant Bagratyan accused government of having failed to form 100% guaranteed retirement funds.

At a November 27 news conference in Yerevan, Hrant Bagratyan expressed confidence that over the half of pension funds will be spent on purchase of foreign securities to provide a 2% VAT growth in future.

“We won't allow for peoples' money to become expropriated over Prime Minister Tigran Sargsyan's plans,” Bagratyan said.

Bagratyan also expressed displeasure over current pension reforms where pensions are invested as a deposit rather than streamed into pension funds.

 Top stories
“The investments will be spent to build a canning factory and slaughterhouses, expand greenhouse farms,” Ignati Arakelyan said.
The funding will go to a subsidiary of ContourGlobal, an international power-generation company that acquired the Vorotan Cascade in 2015.
"We are yet unable to disclose the names of companies we are conducting negotiations with," Satenik Hovhannisyan said.
1,259,657 tourists have arrived in Armenia in January-December 2016, the National Statistical Service said, up by 5,7% on the year before.
Partner news