Armenian economist praises Central Bank for cutting key rate
30.01.2019,
18:43
An Armenian economist Tatul Manaseryan praised today the country’s Central Bank for cutting the refinancing rate by 0.25% percentage points, saying the move is a message for Armenian business community to invest in the home economy.
YEREVAN, January 30. /ARKA/. An Armenian economist Tatul Manaseryan praised today the country’s Central Bank for cutting the refinancing rate by 0.25% percentage points, saying the move is a message for Armenian business community to invest in the home economy.
The Central Bank cut the refinancing rate in the first revision of the key indicator on January 29 over the last 24 months.
Manaseryan described the Central Bank as a disciplined institution that conducts a proper personnel policy. He said the move makes possible borrowing money at a lower interest rate and investing in the domestic economy.
‘When the economy is in a difficult situation, the Central Bank fulfills its role and promotes growth,” said Manaseryan.
According to him, besides the Central Bank, the ministries of economic development and investment and agriculture and the State Revenue Committee should be responsible for managing the inflation. They must work together and coordinate their actions.
According to the economist, a 5% growth is insufficient for Armenia, since the country has money resources and needs to capitalize them. In his words, the 60% growth in the import of capital goods is a good opportunity to retool the economy and increase competitiveness. -0-
The Central Bank cut the refinancing rate in the first revision of the key indicator on January 29 over the last 24 months.
Manaseryan described the Central Bank as a disciplined institution that conducts a proper personnel policy. He said the move makes possible borrowing money at a lower interest rate and investing in the domestic economy.
‘When the economy is in a difficult situation, the Central Bank fulfills its role and promotes growth,” said Manaseryan.
According to him, besides the Central Bank, the ministries of economic development and investment and agriculture and the State Revenue Committee should be responsible for managing the inflation. They must work together and coordinate their actions.
According to the economist, a 5% growth is insufficient for Armenia, since the country has money resources and needs to capitalize them. In his words, the 60% growth in the import of capital goods is a good opportunity to retool the economy and increase competitiveness. -0-
