We Are Not Expecting Default or Devaluation, Says Central Bank

Inflation this year has formed lower than our forecasts, and the low inflationary environment established in recent years will continue in the coming months. This opinion was expressed today by Arthur Stepanyan, a member of the Central Bank of Armenia's board, during a press conference.

According to Stepanyan, this year has been exceptional for Armenia in terms of political developments, which is why the Central Bank should have been more cautious and conservative in both forecasts and actions to achieve its predicted goals.

Stepanyan also addressed the rumors regarding the devaluation of the dram next year, labeling them as misinformation.

“I have not seen any sound analysis explaining why such conclusions have been drawn. They lack any basis and are misinformation, for reasons I do not know. We are not expecting either a default or a devaluation,” he stated.