Media: Price hike expected in Armenia from January 1

Price growth is expected in Armenia, the cost of about 699 items of goods - meat, vegetable oil, cereals, fertilizers, medicines, will increase since January 1, 2020, Report informs citing the Zhoghovurd newspaper of Armenia.

Armenian economist Gagik Makaryan stated that there are several compensating circumstances, that is, possible social upheavals will be averted.

According to him, next year small businesses with a turnover of up to 24 million drams (about 50,400 US dollars) will not be taxed, income tax will decrease. A compensating factor for price increases is also an increase in the minimum wage.

Touching on the topic of the ongoing recession in agriculture, the expert emphasized that this is a regulated process, for which, for example, it is necessary to increase the role of processing companies.

In his opinion, the problem with the Upper Lars checkpoint on the border with Georgia should be resolved in the future, since the Ministry of Territorial Administration, which is responsible for the infrastructure, intends to acquire one or two ferries, possibly from Russia.