ARFD offers to punish CBA up to dismissal of its leadership

PanARMENIAN.Net - Member of the opposition ARF Dashnaktsutyun (ARFD) parliamentary group Artsvik Minasyan offers to punish the Central Bank of Armenia (CBA) for deviations in forecasts concerning the inflation rate by 50%.

“Nobody bears responsibility for a high inflation rate in Armenia. The CBA should provide explanations to the country’s President, who will make a relevant decision up to dismissal of the CBA leadership,” Minasyan said during a roundtable organized by the Club of Economic Journalists of Armenia.

4±1.5% inflation rate is envisaged under the Armenian state budget, while the annual inflation rate exceeded 10% in March.

Minasyan noted at the same time that the policy of the Central Bank of Armenia is not aimed at developing the financial market, in which the banking system’s share is over 90%.

“The problem is in the system of public regulation, which prevents development of other sectors of the financial market,” he said.