ArmInfo.Monetary policy should promote the country's economic growth and help manufacturing exporters and the service-providing IT sector. Armenian Minister of Economy Vahan Kerobyan expressed a similar opinion during a briefing on June 9. In this regard, he stressed that exporters and the IT sector are concerned about the revaluation of the dram against the dollar (by an average of 18% per annum by June 9 this year, ed. note).
And according to the minister, the Central Bank should start using new tools in these conditions. "We understand their concerns about inflation, but we think that now everything needs to be done in such a way that important branches of the economy do not suffer," Kerobyan noted, stressing that the Regulator has the tools to ensure a more balanced exchange rate.
At the same time, the minister drew attention to the fact that for the first time in many years, the current account balance of Armenia is positive. "This is good news. It means that the country's budget receives more funds than it spends. I think this indicates the consistent work of the government in stimulating local production and investment," the official noted.
