Under the agreement reached between the government and the Central Bank, by the end of the year, the dram will depreciate by about 20 drams up to 500 drams, Zhamanak newspaper wrote.

This will be done within the export promotion program, although it is clear that the depreciation of the dram will lead to inflation and the reduction of real incomes of the population, the source noted adding that the government can use inflation to increase budget revenues.

According to the source, Prime Minister Nikol Pashinyan has recently stated that this year’s budget revenue can exceed 40 billion drams by the budget and, apparently, such an impressive result will be ensured by inflation.