Armenia will benefit from shift to floating exchange rate regime,
Ashot Shahnazarian says
YEREVAN, MARCH 6, NOYAN TAPAN. In the opinion of all international
experts, the value of a dollar was to be at 360-380 drams in Armenia,
and it was necessary to ensure stored supplies of dollar and goods for
the shift to a floating exchange rate, the chairman of the RA State
Commission for Protection of Economic Competition Ashot Shahnazarian
stated at the March 6 briefing. In his words, the Armenian government
considered it expedient to conduct a floating exchange rate policy at
the time when "we are ready in all respects and have necessary stocks",
while for small countries it is correct to shift to a floating exchnage
rate at once.
A. Shahnazarian noted that Armenia will benefit from the shift to a
floating exchage rate in terms of job creation and the export and sale
of local products. According to him, the production and export volumes
of local commodities will increase by 20-22%.