Mon, 9 June
27.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Current account balance deficit at Armenia’s foreign trade to be narrow and controllable in 2016

YEREVAN, April 20. /ARKA/. The current account balance deficit at Armenia’s foreign trade will be low and controllable in 2016, Nerses Yeritsyan, deputy chairman of the Central Bank of Armenia, said Tuesday.

Speaking in the National Assembly about the regulator’s monetary policy, he said that the current account deficit narrowed significantly in 2015 compared with the previous year.

In his words, 4% deficit was recorded in 2015 instead of the projected 8%, since domestic demand was weak amid outside shocks.

As a result, he said, imports reduced, while exports retained their relative stability.

Yeritsyan said that although for both imports and exports were going down, the physical volumes of trade turnover didn’t shrink, and even showed a slight growth.

«We think the improvement will last long, and in 2016, the current account balance deficit will be low and controllable contributing to stabilization of inflation and ensuring stability to markets and the public debt in the long run,» he said. —0—-

spot_img

POPULAR

Dollar and ruble exchange rates against Armenian dram rose, while euro fell

The average market exchange rate of the US dollar to the Armenian dram, as of April 2, 2025, rose by 0.06 points compared to April 1, reaching 391.16 drams.

US dollar slightly down  against dram

The average market exchange rate of the U.S. dollar to the Armenian dram on May 7, 2025, decreased by 0.18 points compared to May 6 and amounted to 389.28 drams.

Central Bank leaves refinancing rate unchanged taking into account high uncertainty in US economic policy

The Central Bank of Armenia decided today to leave the refinancing rate unchanged at 6.75% taking into account a set of factors such as  the continued high uncertainty surrounding the US economic policy, declining confidence in the global economy, growth slowdown and  a possible  weakening demand in Armenia, the head of the regulator Martin Galstyan said at a press conference on Tuesday.

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.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

LATEST NEWS

spot_imgspot_imgspot_img