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 | Fly Arna license suspended, says Armenia official The license of the Armenian airline Fly Arna has been suspended for six months, an official says. President stresses Armenia’s clear position to achieve peace On the eve of the International Francophonie Day, the Armenian President met with French intellectuals. Pashinian meets border villagers on possible land transfer to Azerbaijan Prime Minister Nikol Pashinyan has met with concerned residents of two villages in Armenia’s northern Tavush province. Kazakh Foreign Minister arrives in Armenia Kazakh Foreign Minister Murat Nurtleu on Monday, March 18 arrived in Armenia for a two-day trip. |