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Former prime minister of Armenia forecasts further devaluation of Armenian dram
25.03.2010
ArmInfo. Devaluation of the Armenian dram (AMD) will continue over the
current year, said former prime minister of Armenia Hrant Bagratyan at
today's press conference.
According to him, the reason of the decline in the AMD exchange rate
is the unfavorable balance of trade of the Armenian economy. It is
possible to maintain the national currency exchange rate at a certain
level only in case new credit funds are attracted. In general, the
ex-premier thinks that the currency can be "saved" by one effective
method - stimulation of export. "The country should learn to earn
currency by means of improving production and export. The current
situation in the Armenian economy may endanger the country's
independence in the future. We should also get rid of monopolies which
hinder Armenia's development",- said Bagratyan.
25.03.2010
ArmInfo. Devaluation of the Armenian dram (AMD) will continue over the
current year, said former prime minister of Armenia Hrant Bagratyan at
today's press conference.
According to him, the reason of the decline in the AMD exchange rate
is the unfavorable balance of trade of the Armenian economy. It is
possible to maintain the national currency exchange rate at a certain
level only in case new credit funds are attracted. In general, the
ex-premier thinks that the currency can be "saved" by one effective
method - stimulation of export. "The country should learn to earn
currency by means of improving production and export. The current
situation in the Armenian economy may endanger the country's
independence in the future. We should also get rid of monopolies which
hinder Armenia's development",- said Bagratyan.