Yerevan/Mediamax/. Armenian Prime Minister Tigran Sargsian believes that “the best currency policy is the floating exchange rate, corrected only by the government within the framework of its industrial policy”.

Mediamax reports that answering the questions of journalists, Tigran Sargsian stated that the currency exchange rate should depend on the situation in the country’s economy.

“If the country’s economy grows with two-digit index 10 years on end, it is obvious that the national currency should be appreciated. If, however, there is economic decline, leading of a large budgetary deficit and bad payment balance, obviously the currency should devalue”, Tigran Sargsian stated.

According to him, monetary and industrial policy of the state should be considered in a complex, “since the state lacks a clear industrial policy, to abstractly devalue the national currency will mean harming consumers and the entire society”. 

“The currency exchange rate should reflect the realities of the economy and it is inexpedient to maintain it artificially, since this leads to distortions in fundamental bases of economy”, Prime Minister stated.