"The population suffered most as a result of the dram devaluation. "The dram devaluation has led to the price increase on food stuff. The tariffs on utility services will also rise from April 1, and the population will be double-attacked in this respect, said Tatul Manaseryan, , PhD in Economic Sciences, at the press-conference in Yerevan. In order to alleviate the sufferings of the population regarding the social hardships, it is necessary to raise the average salary up to 30 000-40 000."

Speaking of the situation regarding the dram devaluation Tatul Manaseryan said that it was inadmissible to spend about $700 m on the dram rate control, and added that during the recent time Armenia has spent on the dram control more than the World Bank, the International Monetary Fund and Russia taken together granted to the country.

Being the supporter of the stage-by-stage implementation of the floating rate policy, Manaseryan mentioned that the floating rate policy is not an end in itself, so the Government must take radical measures to overcome the current situation. The International experience practices the mechanism of State purchases which enables to control the prices and to fight against the unfair market competitors.

The economist thinks that the global crisis will lead to structural changes and new economy models will be established where the State will partially regulate the national currency rate.