Economy Got Deviated from Patterns: Armen Poghosyan

Olympic premises are being built in neighboring Sochi and we weren’t able to participate in that, which harmed the export rates of our construction materials. The Chairman of the Union of Consumers Armen Poghosyan informed this to Lurer.com when adverting to the recent inflation of prices in the construction market.

Poghosyan mentioned a few reasons of price increase. “First, cement is being produced in two factories and both belong to famous oligarchs. The second reason is the decrease of the volumes of construction materials and the third reason is the cut of export volumes. In all this, the recent loan taken from Russia, $500 million, has also had its influence. That loan should have been used in construction but it didn’t happen. That is the reason why we see half-built buildings. The economy is deviated from its patterns,” said Armen Poghosyan.

Reminder: According to media reports, during the last month construction material price grew by 9%. In many of the stores the prices are already up, in others they are still trying to maintain the old prices.

However, they told a reporter of the newspaper that they couldn’t restrain the inflation for too long.

Also, during the mentioned period, construction material price rose by 8-15%.

Lia Tahmazyan