Oligarch Tsarukyan warns of looming social uprising in Armenia

Armenia is on the brink of significant social unrest, requiring immediate attention to avoid destabilizing consequences, according to oligarch and leader of the Prosperous Armenia Party (PAP), Gagik Tsarukyan.

Tsarukyan criticized the widespread tax increases in the country, which he claimed were impacting small and medium-sized businesses, as well as professionals such as lawyers and accountants, Caliber.Az reports via Armenian media.

He also highlighted the rising costs of transport and a sharp increase in property taxes. Tsarukyan expressed concerns that these sweeping changes to the country’s tax policy had not been properly thought through and called for more thorough analysis and discussion.

"The government must listen to its citizens," he insisted, arguing that the authors of these legislative changes should temporarily freeze them and engage in dialogue with specialists and stakeholders. He argued that the increase in taxes and the deterioration of living conditions should not be regarded as "reforms."

He warned that if these issues were not addressed, the growing tension would not subside, and it would be unacceptable for the authorities to suppress legitimate public discontent through force.

Despite being a representative of large business interests, Tsarukyan suggested that it would be more reasonable to raise taxes for the large business sector rather than burdening the small and medium-sized businesses, which he sees as the backbone of the economy.

"There are around 2,000 to 3,000 large businesses in the country, but small and medium-sized enterprises number between 60,000 and 70,000," he explained.

"You cannot experiment with the people and the business community like this. If this sector is destroyed, the consequences will be catastrophic."

By Aghakazim Guliyev