The devaluation of Turkish lira, Russian ruble and Iranian national currency – rial, has left Armenian businessmen concerned. They are concerned that the sudden devaluation of the national currencies of the aforementioned states in the previous one month will create serious problems for the producers of our country.
Businessman Vahan Kerobyan has posted on his Facebook page, suggesting the Central Bank to devalue Armenian drams for giving Armenian producers “a chance to survive”. Vahan Kerobyan believes, today 1 USD should cost at least 600 AMD instead of 481-482 AMD.
Other businessmen, some persons having a connection with business have also expressed similar opinions. According to them, if the state does not undertake measures and devalue Armenian drams, the exporting businessmen will lose a set of agreements abroad.
Economist, Advisor to the Prime Minister of the Republic of Armenia, Mesrop Arakelyan finds that expensive dollar facilitates the export. However, in parallel with it, negative consequences may be in place as well, which should also be taken into account.
The discussions on devaluating Armenian drams have left also the citizens having business credits taken via dollars or mortgage concerned. They say, the increase of the dollar price will damage a lot of people, inasmuch as the credit burden will become even heavier.
Devaluate Armenian drams, or not? As a response to Aravot.am’s question, economist, expert Tatul Manaseryan assures that now it is not time to speak of the devaluation of Armenian drams: “Our first objective is to raise the potential to compete and the demolition of economic dangers or at least their reduction in line with it. If we reach the level to have a secure economy, an economy deprived of risks or with the minimum risks, we are able to solve food security issue, energy security, investment security and other issues and if we are able to make competitive product which can be consumed not only inside our country but also exported, then we will have the moral right to talk about the high level of the national currency as a hindrance.”
As stated by Mr. Manaseryan, only then we can professionally calculate what market we want to enter and if the prices of our products will be expensive in Armenian drams, or they will be enough. “The people who speak of decreasing the level today, either do not have knowledge in economics or politicize it on purpose, because we should have stable financial background today,” explained Mr. Manaseryan.
Lusine BUDAGHYAN
