YEREVAN, April 16. /ARKA/. Martin Galstyan, a member of Armenia’s Central Bank Board, nominated by the ruling My Step parliamentary faction as a candidate to replace Artur Javadyan as chairman of the regulator, was asked during a parliament session today whether he believes that the regulator must be vested with broader authority.
“I believe that in the current situation the goals of the regulator are to ensure the stability of prices and the financial system. What it needs now is only effective coordination,” he said.
According to Galstyan, it is a proven fact that creation of a stable macroeconomic situation by the Central Bank contributes to economic growth, as it creates an atmosphere of predictability, which is very important for investors.
According to the estimates of the Central Bank, the economic growth in 2020 will drop to 0.7%, which is significantly lower than previous forecasts, however, it will recover in 2021 to 7.2%.
The government projected GDP growth for 2020 is 4.9%. The inflation projection is 4% (± 1.5%). –0–
