Tue, 10 June
21.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Armenian expert says Central Bank and government have sufficient instruments to half inflation

YEREVAN, March 16, /ARKA/. Tatul Manaserian, head of ‘Alternative’ think-tank, argued today that the Central Bank of Armenia (CBA) and the government have sufficient instruments not only to half the inflation but bring it even to a lower level. According to government data, the 2011 February inflation upped by 1.9% from January to drag the 12 month inflation up to 12.4%.

“Naturally, no government is able to have zero inflation. Moreover, a slight inflation may work as a development stimulus,’ he said speaking at a news conference at Novosti international press center.

During a meeting with top government officials on March 11 president Serzh Sargsyan urged the Central Bank and the government to work hard to have inflation halved by the end of the year.

According to Tatul Manaserian, the country has all necessary resources to achieve this goal. He said some of the Cabinet ministers and other government agencies, like the Commission for Protection of Economic Competition, tax and customs authorities should be called to account for failing to implement the government’s objectives. He went on saying that the government agencies must throw away their old approaches based on recommendations of international organizations and look instead deeper into what a country Armenia is, to form own ides for each sector and harmonize them with the program of securing progress.

He reasoned that remote areas of the country must enjoy some tax and other privileges and called for setting up free economic zones.

“It is good that our government plans to carry out some of these programs, but they are not enough to ensure Armenia’s complete exit of the crisis. We all have to understand that we are responsible for our economy,’ he said.

The government has projected a 4±1.5% inflation for 2011. The Central Bank said earlier it expects inflation to slow down gradually in next several months and then to drop to below 5.5%. -0-

spot_img

POPULAR

Euro and ruble exchange rates to the Armenian dram fell, the dollar rose

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 6, 2025, increased by 0.06 points compared to June 5 and amounted to 383.46 drams.

Dollar and euro exchange rates to the Armenian dram fell again, while the ruble rose

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 4, 2025, fell again by 0.1 points compared to June 3 and amounted to 383.76 drams.

AMX introduces remote membership model, opening doors to international investors

The Armenia Securities Exchange (AMX) and the Central Depository have introduced a Remote Membership model, which is aimed at providing access to foreign investors to the Armenia Securities Exchange, the press service of the exchange reported.

Average settlement exchange rate of dram to dollar in May was 0.3% lower than a year ago

In May 2025, the average settlement exchange rate of the Armenian dram to the US dollar was 386.6 drams, which is 0.3% lower than the same indicator in May 2024 (387.8 drams).

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

LATEST NEWS

spot_imgspot_imgspot_img