Devalvation Of The Armenian Currency Is Conditioned By The Past Parliamentary Elections, ExpertJun 6th, 2012 | Category: Economy, Lead Article
By Martin Danielian
YEREVAN, June 6 — Devalvation of the Armenian dram is mainly conditioned by the past Parliamentary elections in the Republic of Armenia, believes ex-head of the Armenan Central Bank Bagrat Asatrian.
«The domestic economic situation is influenced by the external factors, but the past elections had heavy consequences. The volume of cash in the turnover sharply increased in May 2012. The same situation was observed in 2007. As a rule a volume of cash in the turnover increases by 2% in April-May, and during the election year — by 5-6%. In 2012 cash volumes increased by 10% during several days», stated Asatrian at the conference on Wednesday adding that such processes are conditioned by pre-election bribery.
In his turn the head of «Alternative» analytical center, Doctor of Economic Sciences, Professor Tatul Manasserian noted that increase of cash volumes in the turnover has a serious influence on the economic situation in the country but other existing tendencies in economic should also be taken into consideration.
According to the expert the main reason of devalvation of the Armenian currency is flactuation of dollar and euro.
«If we compare with other currencies we may see that no serious flactuation of dram against euro were registered. The same devalvation processes are occuring in a number of coutries, including the post-soviet ones», added Manasserian.