YEREVAN, June 12. /ARKA/. The average annual inflation in Armenia in 2008-2019 was 3.9%, the outgoing chairman of the Central Bank Artur Javadyan said today.

He said the regulator succeeded in ensuring and strengthening price stability. 'During these years, the Central Bank managed to withstand various economic shocks, and, in addition to maintaining price stability in difficult conditions, it managed to reduce and reinforce inflationary expectations. This is best manifested in the behavioral manifestations of the society during the political changes of 2018 and amid the coronavirus pandemic this year," Javadyan said in an address in connection with the end of his tenure.

According to Javadyan, impressive successes have been recorded in the fight against money laundering and the financing of terrorism.

“This concerns both the compliance of our country's financial and non-financial systems with international standards for combating money laundering and financing terrorism, and achievements in financial search in a number of high-profile cases,” he said.

The head of the Central Bank noted that its programs designed to protect consumer rights and financial education, its rules of game and existing procedures are highly appreciated by international organizations.

“Many countries are interested in introducing the Armenian model of protecting consumer rights,” he said.

Javadyan’s term of office expires on June 15. He will be replaced by Martin Galstyan, whose candidacy was approved by the parliament on April 17. -0-