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25.5.2023

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25.05.2023
Parliament debates annual report on activity of RA Central Bank
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In February 2022, when the Russian-Ukrainian conflict began, there were serious upheavals in the international economic and financial markets. All over the world, the prices of food and raw materials, as well as the level of risk in the financial markets, increased significantly. In 2022, inflation in the RA began to increase, and the Central Bank had to resort to the policy of increasing interest rates. The Deputy Governor of the RA Central Bank Armen Nurbekyan said this.

At the regular sitting of May 25, Parliament debated the annual report on the activity of the RA Central Bank. According to the key rapporteur, as a result of the real and financial flows of the RA during 2022, the potential of the RA has increased to a certain extent. “The Central Bank currently predicts that inflation will continue to decrease, which is a very important circumstance. At the same time, the Council considers that we should be very careful, understand what the real reasons for the decrease in inflation are and avoid economic overheating, which will allow us to have stable and long-term economic growth. Our monetary policy of 2023 will also be aimed at this. We expect that at the end of this year we will have about 3% inflation,” Armen Nurbekyan said.

One of the questions raised by the Deputy Chair of the NA Standing Committee on Economic Affairs Babken Tunyan referred to the difficulties exporters face as a result of exchange rate fluctuations. The Deputy Governor of the Central Bank mentioned that Armenia’s economy is small and open, and when there are shocks due to changes in the world, it should naturally be expressed in Armenia. “In that case, companies should take into consideration that there are such risks. We have really done substantial work,” the key rapporteur explained.

Addressing Babken Tunyan’s second question regarding possible problems concerning non-cash transactions, Armen Nurbekyan noted that during 2022, serious investments were made in infrastructures, and today there is an opportunity to make non-cash transactions in villages with 1000 or more inhabitants. The Deputy Governor of the Central Bank also considered the significant price differences during cash and non-cash purchases by banks as unacceptable. “This is unacceptable behavior for us and we must have a relevant position,” he said.

Responding to Babken Tunyan’s question about Armenia coming under additional or secondary sanctions in the context of the sanctions imposed to Russia, the key rapporteur said: “The RA must refrain from arbitrary, primary or secondary sanctions. This is an absolute necessity for the Central Bank and, I think, for the Government as well.”

The MP Sona Ghazaryan inquired about the economic growth recorded in the RA. “There was really a very high economic growth in the RA in 2022. But, at the same time, we avoided major overheating, and we had low inflation along with high economic growth,” the Deputy Governor of the Central Bank of Armenia stressed.

Armen Khachatryan inquired what kind of banking policy is implemented for foreign citizens, so that favorable conditions are created for them to buy apartments with a mortgage loan or to carry out new economic activities. “The banking system is concerned about significantly increasing crediting,” Armen Nurbekyan said.


25.05.2023
Sergey Aghinyan’s candidacy nominated: NA debates the issue of election of PSRC member
The parliament debated the issue of the election of the member of the Public Services Regulatory Commission (PSRC) of the Republic of Armenia. The NA Civil Contract Faction nominated Sergey Aghinyan’s candidacy in the vacant position of the member of the RA Public Services Regulatory Commission.The ...

25.05.2023
Sergey Meghryan elected as a candidate for judge of Civil Chamber of Court of Cassation
The Supreme Judicial Council nominated Anahit Tumanyan, Gayane Mazmanyan and Sergey Meghryan for the vacant position for the judge of the Civil Chamber of the Court of Cassation. At the regular sitting of the National Assembly on May 25, the Chairman of the Counting Commission Narek Babayan presente...

25.05.2023
Candidate for judge of Civil Chamber of Court of Cassation not elected
The Chairman of the RA NA Counting Commission Narek Babayan informed that the Supreme Judicial Council (SJC) nominated for the vacant position of the judge of the Civil Chamber of the Court of Cassation the candidacies of Vahagn Torosyan, Lilit Khachatryan and Ani Mkhitaryan. On May 25, nobody out o...

25.05.2023
A number of legislative initiatives debated in second reading at regular sitting of National Assembly
At the regular sitting of May 25, Parliament debated the draft law on Making Amendments and Addenda to the Law on Military Service and the Status of Servicemen in the second reading. According to the RA Minister of Education, Science, Culture and Sport Zhanna Andreasyan, the main objective of the dr...

25.05.2023
Parliament debates issue of electing a candidate for judge of Civil Chamber of Court of Cassation
The Supreme Judicial Council has nominated Anahit Tumanyan, Gayane Mazmanyan and Sergey Meghryan for the vacant position of the judge of the Civil Chamber of the Court of Cassation. The issue was debated in accordance with Article 135 of the Law on Rules of Procedure of the National Assembly.The bio...

25.05.2023
NA debates issue of election of candidates for judges nominated for vacant position of judge of Civil Chamber of Court of Cassation
The Supreme Judicial Council has nominated the candidacies of Vahagn Torosyan, Lilit Khachatryan and Ani Mkhitaryan for the vacant position of the judge of the Civil Chamber of the Court of Cassation.The Acting Chairman of the Supreme Judicial Council Vigen Kocharyan presented the candidates’ biogra...

25.05.2023
Candidates for judges of Court of Cassation elected
The Chair of the RA NA Counting Commission Narek Babayan presented to the Parliament the results of the voting for the candidates of the judges nominated for the vacant position of the judges of the judicial staff of the Anti-Corruption Chamber of the Court of Cassation investigating corruption crim...

25.05.2023
Parliament continues the debate of the issue of the election of candidates for judges nominated for vacant position of judge of judicial staff of Anti-Corruption Chamber of the Court of Cassation investigating civil cases
At May 25 sitting, the parliament continued the debate of the issue of the election of candidates for judges nominated for vacant position of judge of the judicial staff of the Anti-Corruption Chamber of the Court of Cassation investigating civil cases.Let us remind that the Supreme Judicial Council...

25.05.2023
Alen Simonyan receives a group of residents of 33rd neighbourhood of Yerevan
On May 25, the RA NA President Alen Simonyan received a group of residents of the 33rd neighbourhood of Yerevan (Khanjian, Firdousi Streets, Republic Lane, Tigran Mets Avenue), who asked for a meeting with the RA NA President yesterday.At the meeting, the citizens presented the problematic situation...

25.05.2023
Committee endorses draft law debated in second reading
According to the draft law on Making Addenda to the Law on the Remuneration of Persons Holding State Positions and State Service Positions, it is proposed to give a monthly surcharge to the persons holding an autonomous position in the Investigative Committee in the amount of 92% of the official rat...



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