Wednesday, December 21 2022 19:28

ArmInfo. The National Assembly of Armenia at an extraordinary meeting on December 21 elected Deputy Governor of the Central Bank of the Republic of  Armenia and a new member of the Board of the Central Bank.

The ruling "Civil Contract" faction nominated Armen Nurbekyan for the  position of Governor of the Central Bank, and  Narek Ghazaryan- for  the position of the Member of the Board of the Central Bank. Both  applicants received 70 votes of MPs.

A day earlier, presenting his vision of the development of the  country's banking system, Armen Nurbekyan, who worked for the Central  Bank for most of his career, considered it important to return  inflation to the target level of 4% (+_ 1.5%). He expressed  confidence that the Central Bank will use all monetary policy tools  to achieve this goal. He also stressed that the Central Bank is ready  for various scenarios for the development of events to ensure the  stability of the country's financial system. He also called it  important for the Central Bank to provide wider communication with  the public in order to be understood by the population, to be able to  create feedback mechanisms with them.

In turn, yesteraday, newly elected member of the Board of the Central  Bank Narek Ghazaryan noted that as of November, the lowest inflation  among the countries of the region was recorded in the Republic of  Armenia. He noted that in the context of a significant slowdown in  global economic growth, the continued weakening of inflationary  pressure from external markets, as well as weakening aggregate  demand, a gradual decrease in inflation should be expected in the  Armenian economy, which in the second half of 2023 will approach the  target level.

It should be noted that the Board of the Central Bank consists of the  Governor of the Central Bank, two of his deputies and five members of  the Board, who are elected by the National Assembly of the Republic  of Armenia for a period of six years.