YEREVAN, OCTOBER 5, ARMENPRESS. Exchange rate fluctuations and depreciation of dram at the end of last year had maximum mild impact on Armenia’s economy. The Deputy Chairman of the Central Bank of the Republic of Armenia, Nerses Yeritsyan, mentioned about this during the discussion of annual monetary policy report of 2014 at the National Assembly. “Today we can already record that the impact of those shocks was maximum mild on our economy. I mean that those shocks did not have a full impact on our economy which could have been very dangerous. We could confront the situation which exists in Russia or Kazakhstan. Those countries recorded 15-20% inflation. We managed to record low inflation which prevented future problems thank to our correct policies and close cooperation with the Government”, “Armenpress” reports, Yeritsyan emphasized.

According to him, the Central Bank assessed that shock as a short-term one and was sure that the basic economic indexes of Armenia were far stronger than, for instance, the same indexes of Russia, which had significantly weakened due to decline of oil prices. “As a result, imported goods to Armenia started to cheapen. This will allow up to 50% decline of transfers not to have a significant impact in terms of stability of currency and financial markets”, Yeritsyan announced.

Considering the current regional developments he assesses the level of economic activity of Armenia as positive which will give an opportunity to restore the long-term potential of the economy and record a long-term or medium-term economic growth.