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At December 15 extraordinary sitting, the NA Standing Committee on Financial and Budgetary Affairs debated the issue nominating the candidacy of Narek Ghazaryan presented by the NA Civil Contract Faction for the vacancy of the Member of the Central Bank Board and proposing as candidate in that position to the National Assembly, in accordance with Article 145 of the constitutional law the Rules of Procedure of the National Assembly. The Committee member Arusyak Manavazyan introduced Narek Ghazaryan’s biography and the work path.

Narek Ghazaryan holds the position of the Head of the Department of the Risk Management of the​Financial Markets Directorate of the Central Bank (CB) from April 2022 until now. Thanking the Civil Contract Faction for nominating his candidacy, Narek Ghazaryan briefly touched upon the recent developments of the world economy, as well as the key changes designed by the CB strategy, which are designed to make. Narek Ghazaryan referred to the steps being undertaken in the restrain inflation, noting by November the inflation in Armenia was 8.8%, which is the lowest in the region. “It is low, as we have begun to restrain inflation early from December 2020. At that time the inflation was low from our target, in December 2020 we have carried out the first increase. Our inflation, if I am not mistaken, was about 3. The second important factor is that in all the countries, where the inflation is high, essential depreciation of currency has been noticed,” the candidate said.

As a result of voting, the Committee endorses Narek Ghazaryan’s candidacy.

The Committee accepted as information the report in the work done by the RA NA Budget Office for the third quarter of 2022.