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 | Turkey extends military presence in Azerbaijan The Turkish parliament has adopted a bill submitted by Recep Tayyip Erdogan to extend the mandate of Turkish troops. Russia to begin assessing migrant workers' speaking skills Rosobrnadzor is planning to change the Russian language exam for migrant workers and include an assessment of speaking skills Armenian, Saudi Foreign Minister meet in Riyadh The two commended the positive dynamics of the development of political dialogue between Armenia and Saudi Arabia Pashinyan: Azerbaijan’s proximity shouldn’t worry border residents At the same time, he said that he “does not guarantee [the security of villagers] one hundred percent”. |