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Friday, October 19, 2018

Armenian Cabinet discusses currency stabilization, military pact

Armenian officials discussed currency stabilization at a Cabinet meeting led by Prime Minister Hovik Abrahamyan on Thursday.

The Armenian government said recent fluctuations in the nation's currency have caused disturbances in the economy. Central Bank Vice President Nercess Yeritsyan detailed what had happened and suggested measures to level out fluctuations. He said the bank's reserves can withstand and prevent future fluctuations.

In addition, amendments were approved at the meeting on customs, tax calculation legislation and veterinary regulations.

Also settled were procedures for implementing an agreement on military cooperation made with the Russian Federation last year, namely how Armenia will provide armaments, equipment and other support. This will include the calling-up and preparation of medical staff and reserve troops under the age of 35.

The only other nation to sign an agreement of military cooperation with the Russian Federation is the Republic of Belarus.

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Government of Armenia

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