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Grisha Balasanyan

Ministers' Wives Have the Big Bank Accounts

Armen Yeritsyan, Armenia’s Minister of Emergency Situations, was never one of those state officials who stood out amongst his peers for the level of his personal wealth.

That’s all changed of late. In 2011, Yeritsyan declared 7.248 million AMD in revenues, of which 3.444 million was from a pension and 3.804 million from wages. He has 34 million AMD in the bank.

It’s a substantial rise from the 4.852 he declared in 2009, when he served as the First Deputy to the Chief of Police.

Minister Yeritsyan’s wife, Mary, declared no revenue at all last year but did have 199 million AMD in the bank by year’s end.

Let’s now look at the finances of Armen Gevorgyan, Armenia’s Deputy PM and Minister of Territorial Administration. He only declared 3.211 million AMD in revenue last year in wages.

At the start of 2011, Minister Gevorgyan had $30,000 in the bank. This grew to 1.200 million AMD and $30,000 by year’s end.

In contrast, his wife Tamara had $215,000 in the bank at the start of 2011 and $210,000 at year’s end. Her only revenue was 1.762 million AMD in wages and interest income of $16,641.