YEREVAN. –The Central Bank of Armenia (CBA) is not engaged in forecasting price growth. The task of the CBA is to predict the possible devaluation of the national currency. Nerses Yeritsyan, Vice-Governor of the CBA, stated about this at Tuesday’s session in the National Assembly.
According to him, in order to predict a possible rise in prices, the currency should fluctuate a little more than the inflation rate. "Stability in the country depends on the level of inflation. In this regard, I want to say that both inflation and deflation are possible in terms of currency. However, I can say how much the national currency is assessed or rises in price, as it depends on the conditions of the financial market and many other circumstances," Yeritsyan said.
To note, the Armenian national currency—the dram—has depreciated by 10 percent ever since the recent Artsakh (Nagorno-Karabakh) war.
