Raising the Minimum Wage Threshold Unnecessarily Will Have No Good Consequences, Says Samson Grigoryan

Samson Grigoryan, leader of the 'Halt' movement and businessman, stated: 'The government today refused to raise the minimum wage threshold from 68,000 to 100,000. This is a great opportunity for the 'opposition' for manipulation.' In reality, raising the minimum wage threshold unnecessarily and frequently will bring no good consequences for the economy and the population. Due to the unjustified increase of this threshold, prices will rise, production costs will increase, unemployment will grow, taxes will rise—all with negative consequences, the currency will devalue, and so on...

To have a good economy, salary levels should be dictated by the market using the demand-supply method. Every artificial and forced 'reform' brings more negative consequences than positive ones. In such rare cases, when the government refrains from populist steps, in a remote corner of the country, a small entrepreneur emerges, who may one day lead Armenia to a stable economy.'