Conscientious businessmen go bankrupt in Armenia (video)
Tax changes will first of all affect ordinary citizens. Businessmen will not hurry to empty their wallets, and the burden will fall on the shoulders of consumers. Armen Poghosyan, Chairman of the Consumers’ Association of Armenia, has not calculated yet how much the tax changes will affect the market prices. “Last year, pensions were increased 4.5 percent, while prices went up by 7-8 percent. This is nonsense resulted by untenable economic management,” he said. The increase in food prices was followed by the rise in gas and electricity tariffs. Asked whether economic entities can compensate the rise in prices and keep down the prices, representative of the Armenian National Congress [HAK], economist Zoya Tadevosyan said ‘it is possible but not in Armenia.’ Experts remind that those companies that were conscientious and maintained prices went bankrupt a few months later.
