Amnesty for Oligarchs Without Compensation

    • Comments - 06 October 2016, 23:26
The new government is implementing two parallel processes. On the one hand, officials known as oligarchs are dismissed. On the other hand, the government is trying to fix the economy at the expense of the ordinary citizens, not the same oligarchs.

The government has put forth a real economic goal – cut the budget deficit to 6%, collect taxes that decreased by 100 billion drams, create an enabling environment for new loans and investments.

In this sense, the discharge of oligarchs does not bring anything to the government. Therefore, this looks like a veil. These steps concern every citizen in Armenia. The minister of finance says the budget expenses will be cut by 100 million drams (hence, there will be layoffs), pensions and salaries will not increase, and the tax on income within the range of 150,000 and 2 million drams will rise by 2%.

In other words, the budget issues will be resolved at the expense of everyone of us, not the dismissed oligarchs. In reality, there has been a peculiar amnesty of oligarchs. They are facing a choice: either they finance the gap in the budget or they leave and allow filling in the gap at people’s expense. They preferred leaving, apparently after getting guarantees that they will retain their wealth.

Member of Parliament, General Seiran Saroyan announced yesterday that the oligarchs are trying to whiten their property. They must pay or serve a sentence in Sovetashen, he said.

Apparently, he means that in the current economic situation the oligarchs will not be able to retain their property and it is safer to leave.

The Armenian society is totally indifferent to what is going on. While they were hailing the departure of the oligarchs, they have not noticed that the salaries and pensions will not rise next year and they will have to pay more taxes.