Head of the CBA: Armenia`s international reserves reached an  unprecedented level of $ 2.7 billion

ArmInfo. Armenia's international reserves reached an unprecedented level of $ 2.7  billion. Chairman of the Central Bank of Armenia Artur Javadyan  stated this at a meeting of the Government of Armenia on December 26.

According to him, the Central Bank  this year alone purchased  currencies worth $ 575 million, which allowed to significantly  increase volumes of international reserves of the state. This,  according to the head of the Central Bank, was achieved thanks to the  consistent growth of GDP, the macroeconomic policy, the maintenance  of low inflation and the reduction of public debt. All these factors,  Artur Javadyan continued, contribute to attracting investment and  increasing investor confidence in the country's economy.

The Head of the Central Bank also noted that according to the new  forecast of the Central Bank, the country's GDP growth this year will  be in the range of 7.3-7.4% instead of the previously forecasted 7.2%  growth.

In turn, the Prime Minister of the Republic of Armenia Nikol  Pashinyan pointed to the dynamics of the country's economic growth.  If in September 2019, Armenia's GDP was at 7.5%, in October - 8%,  then in November it jumped to 10.1%. "This dynamic is very important,  and it needs to be supported," said the head of government.

It should be noted that according to the Central Bank's monetary  policy program for the fourth quarter of 2019, published at the end  of December, a range of 7-7.3% is forecasted for Armenia's GDP growth  for 2019 (an average of 7.2%), compared to the previous 6 , 7-7.2%  (average 6.9%).