The governor of the Central Bank of Armenia (CBA), Martin Galstyan, presented the country’s monetary policy or the first quarter of this year at Monday’s meeting of the Standing Committee on Financial-Credit and Budgetary Affairs of the National Assembly.

Galstyan noted that high economic activity was maintained in Armenia between January and March, which was mainly contributed by the considerable growth in trade and industry. According to him, various international organizations and financial market participants predict the economic growth of Armenia in the range of 5 to 6.5 percent for 2024.

Also, the CBA chief noted that low inflation was maintained in Armenia during the last four months of 2024.

"In April 2024, the 12-month inflation fell and amounted to minus 0.7, which is considerably below our medium-term target indicator. It was mainly determined by the deflationary effects being transferred from the external sector, expressed by the considerable deflation of food products," Galstyan noted.