Tigran Sargsyan

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Tigran Sargsyan
Tigran Sargsyan - World Economic Forum on Europe 2011.jpg
Ambassador of Armenia in the United States
Assumed office
15 July 2014[1]
Prime Minister of Armenia
In office
9 April 2008 – 3 April 2014[2]
President Serzh Sargsyan
Preceded by Serzh Sargsyan
Succeeded by Hovik Abrahamyan
Chairperson of the Central Bank of Armenia
In office
3 March 1998 – 9 April 2008
President Robert Kocharyan
Preceded by Bagrat Asatryan
Succeeded by Arthur Javadyan
Personal details
Born (1960-01-29) 29 January 1960 (age 55)
Kirovakan, Soviet Union
(now Vanadzor, Armenia)
Political party Republican Party
Children Narine
Alma mater Leningrad Institute of Economics and Finance
Religion Armenian Apostolicism

Tigran Sureni Sargsyan (Armenian: Տիգրան Սուրենի Սարգսյան, born 29 January 1960) is an Armenian economist who was the Prime Minister of Armenia from 9 April 2008 until his resignation on 3 April 2014.[2]

Early life[edit]

Tigran Sargsyan was born in Kirovakan, Armenian SSR (present-day Vanadzor, Armenia).

From 1980 to 1983 he attended Leningrad's Voznesenski Financial and Economic Institute.[3] From 1983 to 1987 his postgraduate education ended in obtaining PhD degree. From 1987 to 1990 he worked as the Chief of Department for Foreign Economic Relations of Scientific Researches Institute of Economic Planning in Armenia.

From 1988 to 1993 he worked at the post of Chairman of republican Council of Young Specialists and Scientists. From 1990 to 1995 he was a member of Supreme Council of the Republic of Armenia and the Chair of Standing Commission for Financial, Credit and Budget Affairs. From 1995 to 1998 he was the Director of Scientific Researches Institute of Social Reforms. From 1995 to 1998 he was the Chairman of Armenian Banks Association. Sargsyan occupied the post of Chairman of the Central Bank of Armenia (CBA) from 3 March 1998 and was reelected by the Armenian National Assembly as CBA chairman for a second seven-year term on 2 March 2005. As many as 92 MPs participated in the vote, of which 86 cast their vote for his candidacy.


He was CBA chairman until 9 April 2008, when he was appointed as Prime Minister of Armenia by President Serzh Sargsyan upon the latter's inauguration.[4] He is not related to the President of Armenia Serzh Sargsyan.

Major reforms Tigran Sargsyan's government initiated were the following:[citation needed]

  • cash machines reform,
  • e-government development,
  • social package launching for state servicemen,
  • obligatory car insurance reform,
  • several major changes in tax policy,
  • foundation of 2 tax-free zones in Armenia,
  • system of electronic signatures,
  • North-South highway construction (unfinished)
  • tax-free system for start-ups (unfinished)
  • compulsory pension system (unfinished)

He was highly criticized for obligatory car insurance reform, which later became common for Armenian society. Severe protests were also organized against launching new compulsory pension funding system, which finally was not due to Tigran Sargsyan resignation.


Sargsyan announced resignation on 3 April 2014 but did not give a specific reason. While the deputy speaker of parliement and member of the incumbent Republican Party, Edward Sharmazanov, said that President Serge Sarkisian accepted his resignation, he too refused to give a reason for the resignation except saying that it was a "personal decision." However, he had previously offered to resign a month earlier but was convinced to stay on in the role by Sarkisian until a Constitutional Court ruling on his controversial pension reform plan[5] that had been criticised.[6]

Following months of protests,[7][8] the Constitutional Court declared the mandatory part of the pension reform law to be in contravention of the Basic Law of Armenia. The measure would have required Armenians born after 1973 to contribute five percent of their monthly income to one of two private funds sanctioned by the government and the Central Bank to manage the pensions. Opponents had also cited a lack of trust in those funds and no desire to lose such a high share of their income.[9] CC chairman Gagik Harutyunyan added that the law would be in force until the National Assembly invalidated it by 30 September. Other unnamed government officials further noted that in accordance with the ruling the law will henceforth not be complied it, though Justice Minister Hrair Tovmasyan maintained that the ruling against the compulsory element was not unconstitutional in principle, but only that a number of provisions needed to be brought in conformity with the Basic Law.[10]

US Ambassador service[edit]

On June 26 Tigran Sargsyan was appointed ambassador of Republic of Armenia to the United States by Serzh Sargsyan.[11] On July 15 he begined ambassadorship in US meeting US president Barack Obama, who ceremonially accepted Sargsyan's credentials.[1]

Personal life[edit]

Sargsyan is married and has three children: daughter – Narine, two sons – Abgar and Markos and two grandchildren.[12]


External links[edit]

Political offices
Preceded by
Serzh Sargsyan
Prime Minister of Armenia
Succeeded by
Hovik Abrahamyan