Ararat Ghukasyan: AMD sharp fluctuations not expected this year

PanARMENIAN.Net - Chairman of the Union of Armenian Banks Ararat Ghukasyan said that inflation will be weaker by the end of 2010, as compared with its beginning, making 6-7%.

“The inflation index will depend on Armenia’s economy during the second half and the amount of remittances, which are so needed for our country, as well as on formation of the national currency exchange rate,” Mr. Ghukasyan told a press conference in Yerevan.

According to him, the RA Central Bank will undertake measures to restrain inflation, but it depends on many variable indexes as well.

Referring to the national currency exchange rate, Mr. Ghukasyan noted that earlier forecasts proved impossibility to predict a currency exchange rate. “I can say for certain that the price is conditioned by transactions conducted at market and is a result of demand and supply. At most, one can predict possible limits for fluctuations,” he added.

According to Mr. Ghukasyan, currently these limits vary from AMD 380-400 and sharp fluctuations of the national currency are not expected this year. Besides, he eyes gradual currency devaluation as a phenomenon inherent in Armenia’s economy.