Public Eye: Expensive Watches of the Ministers: # 1

Expensive cars, houses and hotels. The Government members also spend much money for the watches. Many of them are trying to cover the watches so that the journalists would not see them. Why do the close trying to hide the watches? The reason is simple. A minister whose annual salary is no more than 7000 USD cannot afford wearing a 6000 USD worth watch without any other sources of income.

For nearly three months we were trying to take photos of the expensive watches of the cabinet members to find out how much they cost.

Time is really expensive. The mind is also relevant in this case. The watches of the members of Executive are expensive as well. shall introduce the watches of three members of the Government. We shall introduce their declarations as well.

In 2012, the funds of the RA Minister of Territorial Administration and Emergency Situations Armen Yeritsyan totaled to 34 million AMD. They remained unchanged for two years. When assuming the office he declared a JEEP WRANGLER 2.4 vehicle, one flat and 25 million AMD.

The minister’s salary in the fiscal year is about 6 million AMD or a little more. The Minister wears a famous Swiss watch IWC Schaffhausen. The cost of such watches starts at 3 million AMD, which is half of the Minister year’s income.

As for the funds of Armen Yeritsyan and his family, it occurs that according to the declaration, his spouse has more money than the minister. In 2012, Mary Yeritsyan had 223 million AMD, which decreased year by year and at the end of 2014 her funds totaled to 91 million AMD.

Louis Blériot, Mahatma Gandhi… Yerevan Mayor Taron Margaryan may be put in the same range with these individuals, of course when speaking about their love for the watches. For example Louis Blériot was wearing a “Zenith” brand watch during his first flight across the la Manche (the English Channel): Gandhi had received one of the watches of the same model and always kept it with him. Taron Margaryan uses to come to the Government wearing the same watch.

In 2012, Yerevan Mayor had 115 million AMD and 50 thousand USD and the same amount of EUROs. At the time of assuming the office he declared two flats, an individual dwelling house, a land plot with a house, 3 garages, two public and one industrial buildings.

In 2014, Taron Marganyan sold the land plot for 156 million AMD and his funds increased from 115 million to 250 million AMD, excluding the funds in EUROs and USD. Mr. Margaryan has bought a RANGE ROVER Supercharged 4.2 VOGUE vehicle for 15 million AMD (30 thousand USD).

The Mayor’s salary in the fiscal year totaled to 4 million 533 thousand AMD. The cost of “Zenith” watch is 3 million 435 thousand AMD.

Mr. Vahram Shahinyan, Head of the RA Special Investigation Service wears a watch with in silver case and golden edging. He prefers relatively young model.

Maurice Lacroix Swiss brand was founded in 1975. Mr. Shahinyan’s watch is produced nearly two years ago. The cost of this watch two years ago was 1 million 400 thousand AMD. At present the cost may be higher.

This is not all. In the nearest future we shall present to you more information on what watches do the members of Executive prefer to wear.

Gevorg Tosunyan

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