YEREVAN. – The low economic activity and weak domestic demand will be maintained in Armenia; this is due to the establishment of martial law, the high rate of the spread of the coronavirus, and uncertainty in the country. The governor of the Central Bank of Armenia, Martin Galstyan, said this in a conversation with reporters on Tuesday.

He recalled that a 9.1% economic decline was registered in Armenia in the third quarter of 2020, and this was mainly due to the decline in the services sector. "[But] as of 2021, expectations about the possible effective use of the [COVID-19] vaccines can create a positive environment in terms of the prospect for the recovery of the global demand. Inflationary trends are observed in the global market, both in the raw materials and food markets. The Central Bank [of Armenia] believes that the foreign sector will have a certain inflationary impact on Armenia’s economy," Galstyan added.