Central bank is monitoring price stability

24.06.2020 19:54
Central bank is monitoring price stability

YEREVAN, June 24. /ARKA/. The Central Bank of Armenia is monitoring price stability to prevent a drop in the purchasing power of citizens, Central Bank Chairman Martin Galstyan said at an extraordinary parliamentary meeting on Wednesday.

He recalled that maintaining the stability of the Armenian dram against the US dollar is not a priority for the Central Bank.

“The Central Bank acts as a guarantor of price stability and no one can predict what will happen to the currency exchange rate. We will continue to closely monitor price stability so that there is no decline in purchasing power of citizens,” Galstyan said in comments on the fluctuation in the exchange rates because of the coronavirus.

A 30-day state of emergency to curb the spread of coronavirus was declared in Armenia on March 16 and restrictions were imposed on free movement of citizens. The government banned also some types of economic activity. On April 13, the government extended the state of emergency for another month and on May 4 it lifted the ban on almost all types of economic activity and the free movement of citizens, except for public transport. On May 14, the government has again extended the state of emergency for another 30 days.

However, despite the extension, public transport, preschools, trading centers, restaurants and gyms have reopened starting from May 18, and wearing of masks has become mandatory in public spaces.
On June 12, the government has extended the state of emergency for another month- until July 13.
Armenia's confirmed cases of Covid -19 have grown to 21,717 as of today morning. Some 386 people died from the infection and 10,797 patients recovered. -0-

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Tags: , Новости Армении АМИ Новости-Армения

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