Armenian Parliamentary Elections followed by inflation: Media

Wed 12 April 2017 07:23 GMT | 11:23 Local Time

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"The main wave of inflation will hit Armenia after the Yerevan Council of Elders elections in May."

Following the April 2 parliamentary elections, the prices of bananas in Armenian stores have been increased from AMD 650-700 ($1.3-1.4) to AMD 730-750 ($1.55) a kilogram, the local Zhoghovurd newspaper writes.

The newspaper reminds that the sole banana importing company in Armenia, Catherine Group, belongs to newly-elected Republican MP Mihran Poghosyan.

Besides bananas, the paper adds, gasoline has also risen in price, a liter of which now costs AMD 380 instead of the previous AMD 330. The price of premium gasoline has increased from AMD 350 per liter to AMD 400, and that of super gasoline – from AMD 400 to AMD 420. The price of diesel fuel has gone up by 10 drams and now stands at AMD 360 per liter.

“The main wave of inflation will hit Armenia after the Yerevan Council of Elders elections in May. After all, bribes will again be distributed, there will be expenses, and the time will come when they will have to collect their money back,” Zhoghovurd writes.

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