Who is the Head of the Market Surveillance Inspectorate: 'Zhoghovurd'

Currently, the head of the Market Surveillance Inspectorate is Armen Kotolyan, who was appointed to the position on September 13, 2018, but has been active since 2009.

Before 2011, Kotolyan served as a leading engineer at South Caucasus Railways LLC, and from 2011 to 2014, he was a program administrator in the analysis monitoring department of the same company. Afterwards, from 2014 to 2016, he held the position of head of the "1C" program implementation service department at South Caucasus Railways LLC. This is reported by the newspaper 'Zhoghovurd'.

Kotolyan submitted his declaration regarding real estate, income, expenses, and interests on May 23, 2024. From this declaration, it is revealed that at the beginning of the reporting year, he declared two plots of land located in the village of Jrvezh in the Kotayk province, which were acquired on the same day, September 3, 2020, through purchase. Both plots of land remained in his possession until the end of the year.

He did not declare any vehicles. At the beginning of the reporting year, Armen Kotolyan declared two loans that he had granted and returned, one of which was 9 million 720 thousand drams at the start of the year, while the other was 3 million 770 thousand drams. During the year, one loan was repaid, while the other increased to 17 million 808 thousand drams. These loans were between Armen Kotolyan and 'Ord Development' LLC.

The head of the Market Surveillance Inspectorate inherited a watch in 2005 valued at over 4 million drams. His bank account balance at the beginning of the year was 1 million 826 thousand drams and increased to 3 million 601 thousand drams by the year's end. According to the declaration, he had 5 million drams in cash at the start of the year, which increased to 6 million drams by the end of the year, while another amount started at 0 drams and became 2,000 dollars by year-end.

Armen Kotolyan's income for the reporting year amounted to 34 million 990 thousand drams, of which 14 million 924 thousand drams is his salary from the Prime Minister's staff, which increased from 13 million 661 thousand drams in the previous reporting year of 2022. Furthermore, 17 million 808 thousand drams are the loans received from Inecobank. Additional income included 443 thousand drams transferred by the municipality of Yerani, 1 million 787 thousand drams from the State Revenue Committee of the Republic of Armenia, and 29 thousand drams from Inecobank again.

It becomes clear from Kotolyan's previous year's declaration that his salary from the Prime Minister's staff has increased in comparison with 2023 since in the previous year his salary was 13 million 661 thousand drams. The outstanding principal remaining on his loan as of December 31 of the reporting year totaled 27 million 178 thousand drams.

Armen Kotolyan is a member of the 'Civil Contract' party. It should be noted that Ruza Kotolyan, who resides with Kotolyan and is also a member of the 'Civil Contract' party, declared one plot of land and one property attached to the land last year, which they jointly acquired in 2021, as well as a residential apartment acquired solely in her name. Her bank account balances were 297 thousand drams, and her annual income amounted to 3 million 550 thousand drams, of which 2 million 550 thousand drams were from her salary at South Caucasus Railways LLC (where Armen Kotolyan previously worked as a leading engineer), while 178 thousand drams were from a pension fund received from Russia.