YEREVAN, June 20. /ARKA/. Currency rate fluctuations in Armenia cannot be serious obstacle for the government to implement its program, Armenian Prime Minister Tigran Sargsyan said.
“Rate fluctuations going on in Armenia today do not appear as a threat for us to implement our programs, however, if we face some sharp fluctuations in the future, different risks can arouse,” he said at an extraordinary Cabinet meeting on Wednesday.
From early May to June 19 the Armenian national currency devalued against USD by 23.42 points or 6% ( from 392.06 to 415.48 drams). The highest devaluation of Armenian dram against the U.S. dollar was reported on June 19 – 415.48 drams per $1.
That is why, according to Sargsyan, the government’s new program contains a chapter related to economic risk assessment for the next five years.
“The same refers to global prices on mining raw materials. Over the recent time they dropped to $6,400 from $8,000 and are fluctuating in this range. For us, as the crisis showed us, it is dangerous when these prices slip lower than $6,000, however as of now it is more profitable for the manufacturers to export the raw materials,” he added.
On June 18 the Cabinet approved the new program for 2012-2017 on its extraordinary meeting. The program is designed in accordance with Armenia’s national security based on election programs of Republican Party of Armenia and Orinats Yerkir. According to the program, economic growth of the country will mainly depend on inner resources.—0–
