Armenian President almost doubles his funds in past 5 years - paper

PanARMENIAN.Net - Armenian president Serzh Sargsyan almost doubled his financial resources over the past five years, Haykakan Zhamanak daily reports.

He had AMD 58mln in his bank accounts in 2007, while March 1, 2012 records a total of AMD 105.6 mln, the growth making AMD 47.6 mln.

In his property and income declaration submitted to Armenia’s Central Electoral Commission, President claimed the following income over the past year: salary worth of AMD 3.898 mln, AMD 2.045 mln of payment equal to salary, and “AMD 8.74 mln of loan interest”. The latter is supposed to be the interest rate gained for bank deposits.

As in 2007, this time President Sargsyan also claimed his property of 96 sq.m. apartment in Stepanakert, as well his 1992 Mitsubishi Montero car.

The declaration also says he has antiques costing over AMD 8mln including statuettes, sculptures, 18-20th century paintings, etc. These items were not specified, the daily says.