Tue, 1 July
18.1 C
Yerevan
USD: 384.47 RUB: 4.90 EUR: 450.83 GEL: 141.25 GBP: 526.80

Average annual inflation in Armenia in 2008-2019 was 3.9%, outgoing chairman of central bank says

YEREVAN, June 12. /ARKA/. The average annual inflation in Armenia in 2008-2019 was 3.9%, the outgoing chairman of the Central Bank Artur Javadyan said today.

He said the regulator succeeded in ensuring and strengthening price stability. ‘During these years, the Central Bank managed to withstand various economic shocks, and, in addition to maintaining price stability in difficult conditions, it managed to reduce and reinforce inflationary expectations. This is best manifested in the behavioral manifestations of the society during the political changes of 2018 and amid the coronavirus pandemic this year,” Javadyan said in an address in connection with the end of his tenure.

According to Javadyan, impressive successes have been recorded in the fight against money laundering and the financing of terrorism.

“This concerns both the compliance of our country’s financial and non-financial systems with international standards for combating money laundering and financing terrorism, and achievements in financial search in a number of high-profile cases,” he said.

The head of the Central Bank noted that its programs designed to protect consumer rights and financial education, its rules of game and existing procedures are highly appreciated by international organizations.

“Many countries are interested in introducing the Armenian model of protecting consumer rights,” he said.

Javadyan’s term of office expires on June 15. He will be replaced by Martin Galstyan, whose candidacy was approved by the parliament on April 17. -0-

spot_img

POPULAR

Armenia to receive EUR 26 million loan from KfW bank for renewable energy development

Armenia will receive a loan and a grant from the German KfW bank for the implementation of the "Renewable Energy and Energy Efficiency Development" program.

Ratio of loans to deposits in commercial banks of Armenia has improved – WB review

In April 2025, deposits and loans of commercial banks of Armenia increased by 1.5% y/y and 0.8% y/y, respectively, slightly improving the ratio of loans to deposits compared to the figures for the previous year.

AMX Reaffirms Compliance with International ISO Standards

The Armenia Stock Exchange and Central Depository (AMX) have successfully completed their compliance certification with ISO 27001:2022 for Information Security Management and ISO 9001:2015 for Quality Management Systems.

Euro falls by 0.62 points to 450.23 drams

The average market exchange rate of the US dollar against the Armenian dram as of June 27, 2025, decreased by 0.59 points compared to June 26 and amounted to 384.32 drams.

Armenia’s budget remained in surplus through April, despite a projected deficit

Armenia’s budget remained in surplus through April, despite a projected deficit, according to World Bank's Armenia Monthly Economic Update – June 2025.

LATEST NEWS

spot_imgspot_imgspot_img