Armenian economy continues to grow at high rates, Deputy Chairman of the Central Bank Armen Nurbekyan said on Monday.
“This is largely facilitated by high external demand in the services sector, as well as by growth in the construction sector,” Nurbekyan said presenting the annual report on the Central Bank’s activities at a meeting of the parliamentary standing committee on financial-credit and budgetary issues today.
He said as a result of a significant increase in the number of foreign clients and financial flows in 2022, the exchange rate of the Armenian national currency strengthened significantly in both nominal and real terms.
The Armenian dram’s strengthening, which manifested itself in parallel with growth in external demand, substantially restrained the rise in prices of imported goods starting from Q 3 2022, according to Nurbekyan.
According to the National Statistical Committee, Armenia’s economic activity in January-March 2023 registered an increase of 12.2% compared to January-March 2022.
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