Kerobyan sees dangers in Armenian dram's revaluationJune 29, 2022 - 18:22 AMT PanARMENIAN.Net - Minister of Economy Vahan Kerobyan has weighed in on the consequences of the revaluation of the Armenian dram for the country's economy, remembering that he "lived and worked in business in 2004-2008, when the industry was destroyed as a result of the dram's revaluation," CivilNet reports. "We saw how much producers and exporters suffered," he said. According to him, as minister responsible for the economy, he cannot tolerate the recurrence of such a situation. "At that time, I was the director of a supermarket chain, and locally produced goods were being removed from the shelves before my eyes, and being replaced by Russian, Ukrainian and Turkish goods. Of course, as Minister of Economy, I can not tolerate its repetition. Especially since our government has adopted an industrial development policy," Kerobyan said. On June 29, the dram settled at 408 against the U.S. dollar and 432 against the euro. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |