Corruption Risks Are High in State-Status Structures: Sukiasyan

The institutions that have state status have a rather low level of service; they do not provide good service and the corruption risks are very high. This was stated by Khachatur Sukiasyan, a member of the Civil Contract faction, during the discussion of the draft law aimed at ratifying the agreement on the establishment of the Eurasian Reinsurance Company at the meeting of the Permanent Commission on Regional and Eurasian Integration.

“Now we are going to move reinsurance to a platform where there are many corruption risks, and new problems will arise again. Why don’t we involve the private sector to counterbalance all this? We have quite a few difficulties in public administration,” said Sukiasyan, emphasizing that issues of effective spending of public funds will also arise.

In response, Deputy Minister of Economy Narek Terteryan highlighted, “Within the framework of the EAEU, we have a good example—the Eurasian Development Bank, which, in my opinion, has been able to reduce those risks with good corporate governance. Similarly, if there is proper corporate governance, the risks you mentioned can be minimized.”