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CBA head: Armenia to post high economic activity in 2013

CBA head: Armenia to post high economic activity in 2013

PanARMENIAN.Net - Chairman of Central Bank of Armenia (CBA) noted ensuring macroeconomic stability one of the greatest achievements of 2012.

As Arthur Javadyan said at Dec 28 reception in CBA, Armenia will post high economic activity and low inflation rate in 2013.

“Our efforts will be aimed at ensuring further success,” he said, hailing the results recorded in 2012 in terms of pricing strategy and financial policy. .

“3,2% inflation rate was recorded in the reporting year,” he said.

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Annual deflation in the country was at 1.9% in August, compared to 1.3% deflation in July, according to central bank data.
Armenia has been listed in the top 20 among the world’s most economically free countries, raking the 18th out of 159 countries and territories.
Another of the issues the PM weighed in on was corruption. He said that new committees will be established to tackle the issue.
The foreign debt makes up around $4.5 billion, including the government’s $3.99 billion and the Central Bank’s $502.4 million debts.
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