YEREVAN. - Armenian Dram (AMD) exchange rate appreciation, inflation, higher bank interest rates and 4% economic growth are expected in Armenia by the end of September, a member of the Ameriabank Board of Directors Tigran Jrbashyan told journalists Friday.

Armenia is faced with serious challenges, which requires prompt and neat solutions.

Jrbashyan pointed out a price rise "imported" to Armenia. On the other hand, the Central Bank of Armenia (CBA) is intensifying its monetary policy. It is only by allowing AMD exchange rate appreciation that the CBA can curb the price rise. However, it may create unfavorable conditions for local producers and exporters.

"It is difficult to say, which of the problems is more serious - improving the social situation or economic promotion," Jrbashyan said.

He believes that people`s "irrational expectations" rather than strategic factors account for lower-level dollarization of the Armenian economy.