Impact of coronavirus on global economy and Armenian economy to be short-term – central bank

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YEREVAN, March 10. /ARKA/. The impact of coronavirus on the global economy and the Armenian economy will be short-term, according to the Central Bank of Armenia. It said it was closely monitoring the developments in the global economy in connection with the coronavirus. “According to current estimates, the impact is expected to be short-term both on the global economy and on the Armenian economy,” the Central Bank said.

Nevertheless, the Central Bank is monitoring changes in the global economy and developments in the financial and commodity markets, as well as evaluates the short-term effects that may affect the Armenian economy.

“If necessary, the Central Bank is always ready to respond by ensuring price and financial stability in Armenia,” the CB commented to “Armenpress” news agency. The number of countries in which cases of infection with a new coronavirus were recorded exceeded 100.

The first confirmed case in Armenia was reported on March 1. A 29-year-old Armenian citizen, who arrived in Yerevan from Tehran on February 28, tested positive for the disease. The wife of the man who arrived with him from Iran tested negative. Thirty-one 31 people who had contact with the infected man were isolated in a hotel in Tsaghkadzor.

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