YEREVAN, May 19. /ARKA/. Prices for 11 key foodstuffs in Armenia were the double or triple of the market prices in 2008-2013, say Hayk Sargsyan and Ashot Markosyan, the authors of the book entitled “Transformation and development prospects of the Armenian economy”, according to “Hraparak” newspaper.

The book finalizing the results of the economic development in the country since 90ies till now has spurred discontent among business elites as it indicates the foodstuffs were sold in Armenia at artificially overvalued prices, as compared to quite low purchasing price levels, the newspaper says.

In particular, beef costing about 816.91 drams per kilo in the global market in 2008 was imported to Armenia at 510.52 per kilo, but the retail beef price was then 1,589.90 drams per kilo (211.4% higher).

In 2013 the price difference came down to 148.7%, according to the authors.

At the same time, domestic prices for butter exceeded the global ones by 117.7% in 2013, and local oil prices were 176.5% higher than the global ones. In 2008, sugar was imported to Armenia at a price 36% lower from the global levels, but was sold at a price 118.6% higher. Yet, the sugar price difference came down to 92.4% in 2013.

Coffee imported at a 28.3% cheaper price (compared to global prices), cost almost 300% as expensive inside the country then.

According to the newspaper, these percentages are in favor of the current authorities over Robert Kocharyan’s rule. Yet, the authors have not gone beyond 2013, probably to avoid a possible dismal picture, “Hraparak” says. –0--