  Arthur Javadyan: CBA policy will be aimed at prevention of inflationary pressures December 28, 2010 - 17:48 AMT PanARMENIAN.Net - Chairman of the Central Bank of Armenia (CBA) Arthur Javadyan said that as a result of toughening of the CBA monetary-credit policy and implementation of measures to prevent dollarization, as well as implementation of the governmental policy aimed at reduction of the state budget deficit, the annual inflation rate was reduced by 3.6% in the first half of 2010. “However, the second half prepared new challenges for us,” Javadyan said during a resulting news conference. According to him, inflation rates have considerably increased starting from July, amounting to 9.6% in November, what was conditioned by a significant growth in prices for foodstuffs in the global market and 17% drop in agricultural production Despite the expected level of 9.7% inflation rate, 6-7% of this level was conditioned by the aforementioned shocks of the supply beyond the CBA control. Javadyan stated that the CBA efforts will be aimed at overcoming these shocks, so that they do not affect other participants of the market and do not become inflationary pressures. Besides, he noted that GDP growth has rehabilitated in 2010 due to industries and services, which helped diversification of the economy.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Court in Azerbaijan extends former Karabakh leader’s arrest by 5 months  The Binagadi District Court in Azerbaijan has granted the prosecutor’s petition to extend the arrest of Arkady Ghukasyan.Ucom General Director joins High-Tech Development Panel Discussion The discussion was titled "The Role of International Corporations and Investors as Catalysts for Development of High-Tech Ecosystem."U.S. still believes “peace is possible” between Armenia, Azerbaijan The United States continues to believe that peace is possible between Armenia and Azerbaijan, Vedant Patel says.Dozens detained as antigovernment protest continue in Armenia At least 63 people demanding Prime Minister Nikol Pashinyan’s resignation were detained on May 14 as they blocked streets in Yerevan. |
