Armenian PM: Government is doing all it can to prevent unjustified price hikes
Armenian Prime Minister Hovik Abrahamyan has made a statement on the situation in the financial market. “The current developments in the financial market are mainly accounted for by global and regional developments, which are not free of gamblers. Amid such spontaneous global developments, Armenia’s government remains committed to its floating exchange rate policy which is necessary to prevent long-term economic instability. The government supports the Central Bank’s efforts to ensure stability of the economic system and is taking all the necessary measures to ensure the financial system’s natural activity and protect the rights and interests of Armenia’s economic entities and citizens. All the lending agencies must be sure that Armenia has an efficient deposit guarantee system and that both the government and the Central Bank are and will be doing their utmost to protect citizens’ deposits,” Hovik Abrahamyan said in the statement. Hovik Abrahamyan said that the board of directors of Armenia’s Central Bank would today present detailed explanations to the public regarding the current crisis. He stressed that the government is doing all it can to prevent unjustified retail price hikes.
