YEREVAN. – The Prime Minister of Armenia, Hovik Abrahamyan, on Wednesday issued a statement in connection with the present-day financial market situation in the country.

“The current developments in the financial market are primarily due to the global and regional developments, which are not free from apparent speculative elements.

“In the case of such elemental developments of the global trends, the Government of Armenia continues to adhere to its policy of floating exchange rate, which is indispensable for keeping the economy away from long-term instability.

“The Government [also] supports the Central Bank efforts for [achieving] financial system stability [in the country].

“The Republic of Armenia has a productive [bank-]deposit-guarantee system.

“The government is also in constant touch with its international partners, and it is confident that we can ensure stability, both in the financial and the goods markets, including the ruling out of unjustified price hikes in consumer goods,” the Armenian PM’s statement specifically reads.