INTEREST RATES MAY BE REDUCED IN ARMENIA SOON, PREMIER STATES
ARKA
Dec 16, 2008
YEREVAN, December 16. /ARKA/. The interest rates may show a downward
trend in Armenia soon, RA Premier Tigran Sargsyan said during a
hot-line arranged by the Golos Armenii (Voice of Armenia) newspaper.
Since the inflation risks have been reduced over the last month,
Armenia has increased its imports of goods and services.
"The lower prices allow the Central Bank of Armenia to revert to the
interest rate policy. Since we registered lower rates of GNP growth
last month, the interest rates may soon be reduced. However, it must
be a prudent, not a stereotypic, step," T. Sargsyan said.
He pointed out the different macroeconomic situations in different
countries.
"We mainly focus on large developed countries, which have been deeply
affected by the crisis.
The globalized world, which promptly responds to the changes in the
developed countries, creates serious problems for all the states. But
some states have not yet been seriously affected by the world economic
crisis, and Armenia is among them," the RA Premier said.
T. Sargsyan said that Armenia has to maintain its macroeconomic
stability, and all the macroeconomic indicators must be strictly
controlled by the Government.
"This will ensure stability for investors. At the same time, we have to
maintain financial stability and use all the means possible to promote
the development of national economy and export," T. Sargsyan said.
He stressed the necessity for a most prudent policy, including the
interest rate policy.
"On the one hand the Government has to control the balance of payment,
on the other hand it must control the potential gross national product
and other macroeconomic indicators," the RA Premier said.