Certain Product Price Increases Have Occurred and They Worry Us: Prime Minister

Prime Minister Nikol Pashinyan announced today, on April 6, that he has instructed to investigate the price increase of bread in Vanadzor. He made this statement while responding to citizens' questions, addressing concerns over rising prices for all products, including bread. He acknowledged that people are aware of their situation and are worried that prices are escalating, particularly in Vanadzor where prices are frighteningly high. He expressed, 'If this continues, the people will be left hungry. What is causing this rise in prices?'

"This morning, I took a look at the situation in major retail chains, and according to the data I have, there has not been a price increase for bread in these chains. Yes, certain price increases have occurred for some products, and these increases are concerning to us," the Prime Minister stated.

Pashinyan outlined measures taken to counteract inflation, noting that "some of the price increases may be linked to currency fluctuations. To manage this risk, the government is providing importers with preferential loans to offer some support against currency risks. With the implementation of this tool, which has already started under the first anti-crisis measures, we need to support, help, and, where necessary, monitor to ensure that uncontrollable price increases do not occur."

He also highlighted that within the framework of the EAEU, an agreement was reached where the customs duties on more than 600 products had increased as of January 1, 2020. "We negotiated and reverted these increases to previous levels, and soon this decision will come into force, with customs duties reducing over the next six months, particularly for meat, butter, rice, sunflower oil, margarine, buckwheat, medical supplies. We are convinced that these actions will somewhat mitigate inflation," he reiterated.

"Let's not scare ourselves with the thought of famine. Armenia is a fertile, bountiful country, and our people are hardworking. Together, we will overcome all difficulties. Armenia has sufficient reserves," Pashinyan concluded.