Income, Debts, Classified Data: What Do National Assembly Speaker Alen Simonyan’s Declarations Show?

Following the change of government in 2018, the financial picture of Alen Simonyan, Speaker of the National Assembly of the Republic of Armenia and a member of the Civil Contract party’s governing board, changed noticeably. His declarations in the following years record a sharp increase in income, a persistent debt burden, significant amounts of cash, and the systematic classification of some of the data, which has repeatedly become the subject of journalistic investigations and reviews.

Already in the 2018 declaration, the first year after coming to power, Alen Simonyan’s total annual income amounted to 14.56 million drams, while his declared salary was 560,000 drams. That same year, an apartment, the purchase of a Range Rover Evoque for 12 million drams, the sale of a Mitsubishi ASX, as well as monetary funds in drams and dollars were listed. His wife, Mariam Margaryan, had an income of around 1.5 million drams during that period.

It was precisely the declarations from this period that became the subject of an investigation by the Fact Investigation Platform (FIP), which pointed to procedural violations, inaccuracies in the dates of property acquisitions, and questions related to the sources of funds, particularly regarding the purchase of the Range Rover. Based on the results of the review, the Ethics Commission for High-Ranking Officials imposed a disciplinary sanction in the form of a warning.

Starting from 2020–2022, the structure of the declarations became less transparent. A significant portion of the data concerning income, securities, and the origin of funds was classified. At the same time, a large debt of around 53.8 million drams continued to be maintained year after year, while significant amounts of cash, measured in tens of millions of drams, were also declared.

In 2022, Alen Simonyan’s declared income amounted to around 70 million drams. More than 48 million drams of that amount was received from “HAIEKONOMBANK.” At the end of the year, Alen Simonyan had loans and borrowings totaling 65,942,291 drams.

The declaration also lists income received from the rental of property and funds received pursuant to court decisions. During the same period, Simonyan acquired an apartment in the “Byuregh” residential complex on Arshakunyats Avenue, financing the purchase through a mortgage loan from “HAIEKONOMBANK,” which is controlled by the family of National Assembly parliamentarian Khachatur Sukiasyan. At the same time, a significant portion of the information concerning the property and financial flows during this period is not publicly accessible.

In the 2024 declaration, most of the data is once again classified. The information that remains unclassified shows that Alen Simonyan still owns the apartment acquired in 2019 and the same large debt, amounting to around 53.8 million drams, despite the payments indicated as being made toward its repayment. The monetary funds held in accounts decrease to minimal amounts, while the volume of cash increases. Total annual income decreases to around 29 million drams, but its structure once again includes bank borrowings and inflows from state and private sources. Data concerning his wife’s property and income is classified for this period.

A separate episode in the body of declarations concerns the real estate located at 62 Abovyan Street, where FIP pointed to the possible concealment of an ownership share. Following the publications, the Cadastre Committee issued a clarification stating that the ownership right had been transferred back in 2016, and that the information previously provided could have been the result of a technical error. This episode best illustrates the contradiction between journalistic investigations and the official “clarifications” that follow them, which is characteristic of this entire story.

Taken together, Alen Simonyan’s declarations for 2018–2024 form a consistent picture: rapid growth in income after coming to power, a significant role played by bank and external inflows, a chronic large debt burden, substantial amounts of cash, and the periodic classification of data, which makes public and journalistic scrutiny more difficult.

Attention is also warranted by the income dynamics of Alen Simonyan’s wife (now former wife), Mariam Margaryan. In 2019, she acquired a 100% stake in “FFMF GROUP” LLC and became the company’s director, as well as receiving income from “MediaNews” LLC. In the following years, her declarations record business assets, loans—including from her own company and from banks—as well as significant amounts of cash. While in the first years after 2018 her declared income amounted to around 1.5 million drams per year, in 2022–2023 it increased to 60–68 million drams annually. At the same time, some of the data concerning her property and income was also classified in different years.

In brief: What do Alen Simonyan’s 2018–2024 declarations show?

• After coming to power, his annual income increased from 14.5 million to around 70 million drams.
• His salary accounts for only part of his income and does not explain its overall volume.
• Bank inflows, rental income, and other external sources play a significant role.
• A debt of around 53.8 million drams has remained for several years.
• Each year, cash amounts reaching tens of millions of drams are declared.
• A significant portion of the data concerning income, assets, and the origin of funds is classified.
• FIP investigations have revealed violations and inaccuracies.
• Some of the problematic episodes were subsequently addressed through official clarifications.”
• The declarations record credit obligations with “HAIEKONOMBANK,” which is controlled by the family of National Assembly parliamentarian Khachatur Sukiasyan, as well as transactions with developer “Jermuk Group” CJSC, which is owned by former Republican Party of Armenia parliamentarian Ashot Arsenyan.