In Armenia MP can mean Millionaire in Parliament

In Armenia MP can mean Millionaire in Parliament –

Eurasianet – Armenia’s parliament is something of a millionaire-hangout, according to local media reports. Nineteen members of the 131-seat assembly have incomes of over $1 million, the reports say, citing the most recent official income declarations.  

Tamada Tales could not immediately double-check the  reports since the English-language version of the income-disclosure website is not fully functional. But if the reports are true, then one influential opposition party, Prosperous Armenia, certainly lives up to its name.

The populist party and its boss, tycoon Gagik Tsarukian , rank as the richest party and lawmaker, respectively. For good measure, Prosperous Armenia allegedly boasts another eight millionaires as well, with the grand total of the MPs’ net worth coming to $163.6 million, reported the newspaper 168 Zham (168 Hours), which came up with the original report on the millionaire-lawmakers.

Another nine millionaires in the legislature belong to the ruling Republican Party of Armenia, while one independent MP, Araik Grigorian, who doubles as president of the board of a wine-factory, ranks as the legislature’s millionaire-maverick.

In grand total, Armenian lawmakers are worth $235 million, 168 Zham said. By comparison, average monthly salaries  in Armenia rank the dram-equivalent of just $424.

Local critics long have argued that the country’s legislature largely functions as a good ol’ boys’ club, with business and political interests mingling seamlessly, and members essentially seeking seats only to further their business interests.

Judging by these income disclosures, looks like some have been particularly successful in such a quest.