Armenian dram maintains stability thanks to balanced monetary-loan policy, says economist
YEREVAN, AUGUST 11, ARMENPRESS. On the background of depreciation of national currencies of neighbor states in the region, Armenia’s national dram maintains its stability, economist Tatul Manaseryan told Armenpress. He said that he notices national currency instability tendencies in the region on the background of unpredictable foreign policy run by US President Donald Trump.
The economist outlined the fact that there is a common depreciation of currencies in neighbor countries – Iran, Turkey, Georgia and Azerbaijan, but the Armenian national dram maintains its stability.
“In this regard Armenia’s national dram maintains not only relative, but also absolute stability in the past years, which, of course, is a result of balanced monetary-loan policy, which in its turn creates stable background for the business environment. In other words, the national currency makes predictable also the economic developments for entrepreneurs and investors, of course, make Armenia’s economy much more preferable”, the economist noted.
He reminded how many banks were closed in neighbor states, which didn’t take place in Armenia even during the depreciation of the national dram in 2009-2014.
Manaseryan says the new US sanctions on Russia are not desirable for Armenia. He states that the economies of Armenia and Russia are inter-related and the export and import comprise quite a great volume which increases every year, especially in the context of membership to the Eurasian Economic Union (EAEU).
“The depreciation of the Russian ruble in the recent period, and I would say in the recent years, quite negatively affects Armenia. And this is first of all the decline of solvency of the Russian population which can undermine selling of goods exported from Armenia”, the economist highlighted.
According to him, on the other hand, when the national currency of Armenia’s partner country depreciates, it enables the country to acquire raw material or ready products at relatively at affordable prices.
Edited and translated by Aneta Harutyunyan