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At June 13 sitting, the National Assembly debated the annual report on the activity of the Central Bank (CB) of the Republic of Armenia. The CB Governor Martin Galstyan presented in detail the report comprised of several parts. According to his information, in the conditions of the ongoing geopolitical developments and preserving uncertainties in 2023, the world economic activeness and demand continued to slow down.

In case these developments and the restraining monetary policy being implemented in those countries, in the international commodity markets, essential decrease of especially food and energy carriers was observed, as well as the inflation environment in the world economy was softened to some extent. In such conditions the inflation pressures on the RA economy from the external part were essentially weakened in the first half of 2023, and in the second half of the year inflation influences were observed. During the year, in the economy of Armenia high activeness was registered more than it was expected, conditioned by the high growth mostly recorded in the sector of services and construction. In parallel, the gross demand also was preserved at high level, which in the first half of the year was expressed especially by the essential increase of the external demand in the service sector.

As Martin Galstyan informed, in 2023, the estimate of the CB administrative expenditures was 10 billion drams, and the performance was 8.6 billion drams or 85%.

The CB Governor answered the deputies’ questions.