Tigran Sargsyan: The pecularity of 2005 was the decrease of dollarization

ArmRadio
23.03.2006 16:00

Today the President of the Central Bank of Armenia Tigran Sargsyan
presented the results of the 2005 activity to the National Assembly.

According to Tigran Sargsyan, the report has been thoroughly discussed
at the NA Standing Committee of Standing Committee on
Financial-Credit, Budgetary and Economic Affairs. There have been also
hearings, during which the Central Bank presented its major
methodology and counting principles.

The major results of 2005 were presented in the report. According to
these results, real increase of GDP has been registered.

The President of the Central Bank informed that the peculiarity of
2005 was the decrease of dollarization, which, in its turn, is
associated with the fact that the national currency reinforces its
positions against the foreign exchange, therefore weakening the
distrust. In 2005 dollarization in the Republic of Armenia decreased
with 10 percent.