Current account balance deficit at Armenia’s foreign trade to be narrow and controllable in 2016

20.04.2016 17:09
Current account balance deficit at Armenia’s foreign trade to be narrow and controllable in 2016

YEREVAN, April 20. /ARKA/. The current account balance deficit at Armenia's foreign trade will be low and controllable in 2016, Nerses Yeritsyan, deputy chairman of the Central Bank of Armenia, said Tuesday.

Speaking in the National Assembly about the regulator's monetary policy, he said that the current account deficit narrowed significantly in 2015 compared with the previous year.

In his words, 4% deficit was recorded in 2015 instead of the projected 8%, since domestic demand was weak amid outside shocks.

As a result, he said, imports reduced, while exports retained their relative stability.

Yeritsyan said that although for both imports and exports were going down, the physical volumes of trade turnover didn't shrink, and even showed a slight growth.

«We think the improvement will last long, and in 2016, the current account balance deficit will be low and controllable contributing to stabilization of inflation and ensuring stability to markets and the public debt in the long run,» he said. ---0----


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