People have no money, they’re buying bread on credit: Artur Khachatryan

In Armenia, people don’t even have cash on hand for bread, they’re buying it on credit. The country’s financial system needs to be substantially transformed to finance production and industry, said Artur Khachatryan, a lawmaker from the “Armenia” faction, in the National Assembly.

Speaking about attracting foreign investment and the business environment, the lawmaker raised the issue of major companies’ deals and the transfer of shares to the state.

“We still haven’t received an answer to the question of why Cronimet left Armenia. Why did GeoProMining suddenly transfer a significant portion of its shares to the government? In the financial system, this is called raiding,” he noted.