Time in Yerevan: 11:07:36,   15 December

Central Bank says price increase forecasts are overestimated

YEREVAN, JANUARY 23, ARMENPRESS. The Central Bank of Armenia says the price increase expectations are overestimated, president of the bank Arthur Javadyan said during parliamentary hearings on tackling price increases and determining the reasons.

“Price increase forecasts have grown as result of increases of excise tax and customs tariffs and growth of prices of several products, which are being enhanced by ungrounded manipulations of regularly circulating media reports of certain experts and figures. We definitely find these expectations to be overestimated”, he said, adding that this is the reason why the CB didn’t change the re-financing rate in December of 2017.

The official added that price increase forecasts have dropped in the recent years, which is a positive thing for any business.

As a result, interest rates have decreased.

“Monetary loans comprised 33,5%, currency deposits 10,1”, he said, adding that the increase of monetary loans is 28,8%, and 10,6% for the currency loans.

“Confidence for the dram has significantly increased”, he said.



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