Default is expected in Armenia - dram devaluation observed

17:49 - 2.10.2023

October 2, Fineko/ Both economic and political upheavals have occurred in Armenia.

Artur Khachatryan, MP from "Armenia" faction of the National Assembly of Armenia, stated about this in an interview.

He noted that the country is expected to default, and the future of Armenia is uncertain.

He added that there is devaluation of the dram in the country: “The selling price of the US dollar has reached about 420 drams, and the selling price of the euro is 445. There are internal and external reasons for the depreciation of the dram.”

The MP noted that Armenia's future is uncertain: “US dollar transfers from Russia have also decreased. The risk of default is gradually increasing. The authorities don't want to get out of this situation.”

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