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The Central Bank of Armenia (CBA) does not curb artificially the currency rate, CBA Deputy Chairman Nerses Yeritsyan said today in the parliament during discussion of the CBA report on implementation of the 2014 monetary and credit policy program.

He made that statement in response to a remark of the head of the opposition faction ‘Armenian National Congress’ Levon Zurabyan that CBA artificially stops the depreciation of the Armenian national currency – the dram.

According to Yeritsyan, various studies will be released soon showing that there are no deviations from the currency rate. “Mr. Zurabyan and the population will see soon that he is mistaken in his forecasts, that he is lying and misleading people. CBA makes interventions which cannot divert the rate. The interventions are only aimed at overcoming the temporary fluctuations,” he said.

According to forecasts, 2.5-3.8% economic growth is expected in Armenia at the end of 2015, and the inflation level is estimated at 4% (plus or minus 1.5%), Yeritsyan said.

in his words, the events of recent years show that thanks to efficient regulation and control, the financial system has been able to withstand shocks and ensure a very high growth, while many developed financial systems were in recession. It is time to trust the policy carried out by CBA, he added.