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Armenia: 60 percent of market controlled by monopolies, oligopolies

 |  November 27, 2013

A recently released World Bank report found that about 60 percent of Armenia’s market is controlled by monopolies and oligopolies, higher than anywhere else in the region except for Azerbaijan.

In the report “Republic of Armenia: Accumulation, Competition and Connectivity,” senior World Bank economist Gohar Gyulumian presented the findings as a need for an overhaul of the nation’s antitrust system, a declaration made before by the World Bank.

Specifically, Gyulumian suggested legislative changes that would declare a firm dominant if it held more than 33 percent of the market.

The nation’s State Commission for Protection of Economic Competition is more concerned with price-fixing than general market research, Gyulumian said.

Full Content: ARKA News Agency

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