Government Will Implement Illegally Acquired Property Seizure Law at Any Cost: 'Fact'

The 'Fact' newspaper writes: 'Armenian authorities, understanding that the recent pandemic situation in the country has made it impossible to provide revenues to the state budget and that a more severe economic downturn is inevitable, are trying at all costs to implement the 'Seizure of Illegally Acquired Property' law as soon as possible.

Specifically, we have information that the relevant authority has been clearly instructed to develop a working plan in an active and organized manner in the near future and present a mechanism for specific steps to the authorities. It should be noted that the applicability of this law not only requires a rather serious toolkit, but will also pass through lengthy processes, and it is not excluded that some cases may take years to investigate.

According to experts, if the authorities intend to turn the 'Seizure of Illegally Acquired Property' law into an economic lifeline for themselves, it will not be an easy and quick process. In a conversation with the newspaper, a well-known expert in the field mentioned that the application of this law will not help the current government but will have a direct impact on the outflow of capital from the country, as people will sooner or later realize that there is simply no healthy environment in the country, there is no confidence in the economy, as there are concerns that we are dealing with a means of fighting against the undesired rather than uncovering real illegal activities.

According to him, this will seriously affect Armenia's ranking in the external world and will nearly eliminate the already non-existent investment flow to Armenia.'