WB: 60-63% of Armenian economy is monopolized

“60-63% of the Armenian economy is monopolized and oligopolistic,” senior economist of the World Bank Office in Armenia Gohar Gyulumian said at a meeting with journalists today.

According to her, a limited number of companies hold a dominant position in some sectors of the economy, although the existence of large companies is not bad in itself: measures should be taken to prevent such companies from abusing their dominant position in the market.

The economist stressed the need to improve the antimonopoly law and develop a more flexible definition of companies with a dominant position.

In her words, the competition protection agency’s function is not related to high prices, but it should ascertain whether companies can enter the market. “In some markets prices are quite stable, but is there competition?” the WB expert said.