Pursuant to Article 145 of the Constitutional Law the Rules of Procedure of the National Assembly, the RA NA Standing Committee on Financial-Credit and Budgetary Affairs proposed to the National Assembly for the vacancy of the Member of the Board of the Central Bank (CB) the candidacy of Narek Ghazaryan presented by the RA NA Civil Contract Faction.
The member of the RA NA Standing Committee on Financial-Credit and Budgetary Affairs Arusyak Manavazyan presented the candidate’s biography and work path.
Narek Ghazaryan thanked the Civil Contract Faction for nominating his candidacy in the position of the CB Board Member, as well as the members of the Standing Committee on Financial-Credit and Budgetary Affairs for the professional debate held in the Committee.
The candidate presented the recorded developments from the beginning of the current year in the world and domestic economies and the appropriate response from the CB. He also touched upon the economic challenges, the expecting deep transformations by the strategy of the CB and in that process the expecting introduction by him. Speaking about the inflation in the international market, Narek Ghazaryan noted that by November from the member states of the region the lowest inflation was recorded in the Republic of Armenia. “According to the forecast scenario by the CB, it is expected in 2023, in the conditions of significant slowing down of the world economic growth rates, the continuing weakening of the inflation pressures from the foreign markets, as well as in slowing down the high growth rates of the demand in the economy of the Republic of Armenia, the inflation and the inflation expectations will continue to decrease and in the second half of the year 2023, they will approach the CB purposeful, 4 percent level,” Narek Ghazaryan said.
The questions directed to the candidate referred to the banking activity, the collection of the commissions related to the exchange rate. “This year we had inflow of the unprecedented big volume. In this situation the banks make use of the international several sources related to the operations of the cash withdrawal, which in their turn increased the collection costs of the cash, making stricter the demands of the sphere,” Narek Ghazaryan clarified, noting they are every careful, the most important thing is that anti-competitive manifestations will not be in the sphere.
The issue of the election of the member of the Central Bank Board was debated at the sitting of the RA NA extraordinary session on December 20.
The candidate’s election will be held on December 21.