Yerevan/Mediamax/. Armenian Prime Minister Hovik Abrahamyan stated today that current financial market developments "are mainly accounted by global and regional developments which are not deprived of overt speculative elements”.

“Given such spontaneous developments of global trends, the Armenian government remains committed to the adopted policy of floating exchange rate which is required to ensure our economy against long-term instability”, said the PM adding that the government backs Central Bank’s (CB) efforts aimed at the stability of the financial system.

Hovik Abrahamyan said he believes all depositors should be sure that “Armenia has an effective deposit guarantee system, and the government and the Central Bank commit every effort to protect the deposits of the citizens”.

“The government also maintains regular contact with its international partners and is sure that joint efforts and common sense will enable us to ensure stability in the financial and goods markets at the same time ruling out groundless price rises of consumer goods”, summed up the PM.