YEREVAN, February 28. /ARKA/. Hrant Bagratyan, a former Armenian prime minister, finds it necessary to phase out impacts of monopolies on markets to tame inflation.

On Monday, speaking at a news conference, he said that only competition could deter prices from rising.

He said that the gap between retail and wholesale prices should be narrowed as well.

The former premier also said that 70 to 80% of retail trade should be carried out by small and mid-size shops.

In his opinion, only one supermarket should operate in each of the districts of Yerevan.

He views this as an effective way to curb price hikes.

Earlier, Prime Minister Tigran Sargsyan said in an interview with some Armenian TV channels that the government had worked out a program aimed at lessening inflation.

In the 2011 government budget, inflation is projected at 4% (±1.5%).

In 2010, 9.4% inflation was recorded in Armenia. -0-