ArmInfo. Speaking about the revaluation of the dram in a negative context related to exporters, we should not forget about business entities that, thanks to the low exchange rate, managed to modernize production capacities at favorable prices. On November 1, answering the question of an ArmInfo correspondent, head of the Central Bank of Armenia Martin Galstyan said.
"It should be noted that during the year, business entities purchased imported equipment at lower prices than they would have bought if the dram/euro exchange rate was 600 AMD/1EUR. In the case of the exchange rate of 400 AMD / 1 EUR, business entities saved about 50%, not counting the state subsidy program. That is, this is a very good opportunity for those business entities that want to increase their productivity, enter new markets, and produce new products," he said.
In turn, Hayk Avetisyan, Head of the Monetary Policy Department of the Central Bank of Armenia, noted that the unprecedented economic growth in almost all areas created a fairly positive environment for the business sector, which in turn led to a significant decrease in demand for lending. "In other words, private companies have formed appropriate incomes in the economy, which they use for investment, or repay their loans ahead of schedule," Avetisyan explained.
