Artsvik Minasyan: Inflation "eaten up" increases in pensions and benefits

PanARMENIAN.Net - The growth in pensions and benefits in connection with the increase in gas rates is a small positive step, however cannot be radical solution to inflationary pressures, Artsvik Minasyan , Deputy Chairman of the NA Standing Committee on Financial, Credit and Budgetary Affairs, ARF Dashnaktsutyun member told a news conference on March 5.

"Inflation has "eaten up" all these increases in pensions and benefits. The government's wish to overcome the crisis are very cautious and superficial, " he stressed.

In turn, RA Deputy Finance Minister Vardan Aramyan objected, saying the expected increase in benefits from May 1 to 3.5 thousand AMD will not only compensates the rise in gas prices, but also cover the increasing prices of other products in the conditions of inflation.

"In the minimum consumer basket, equal to 28.8 thousand AMD the share of utility expenses is 2.6 thousand AMD, including 500 AMD for natural gas; after the 37.5 per cent increase in gas tariffs it will make 700 AMD," RA Deputy Minister of Finance explained.