Thursday, 4 December 2014
Necessary Steps Underway to Stabilize Currency Market
A Cabinet sitting was held today, chaired by Prime Minister Hovik Abrahamyan.
Before proceeding to the agenda, the Prime Minister referred to the recent days’ agitation in Armenia’s foreign exchange market. Central Bank Vice President Nercess Yeritsyan was given the floor to provide clarifications over the exchange rate fluctuations and the steps underway to stabilize the currency market.
He reassured that the Central Bank’s reserves are sufficient to prevent subsequent exchange rate fluctuations and ensure financial stability. After the agenda had been approved, the Cabinet proceeded to the discussion.
To harmonize Armenia’s legislation with the CU Commission-adopted regulations, the Government approved a set of amendments to the laws “On customs regulations,” “On indirect tax calculation and payment specifications applicable between the Republic of Armenia and the EEU-member States” and two other laws, as well as “On veterinary medicine” and 3 other legal acts.
The meeting approved the procedure to be followed in implementing the agreement on military cooperation as signed between the Russian Federation and the Republic of Armenia on June 25, 2013. The agreement covers such areas as the provision of armaments, military equipment, labor and services, technical-intellectual activity products and information. Note that the Russian Federation has signed a similar agreement only with the Republic of Belarus.
The Republic of Armenia is engaged in active military and military-technical cooperation with the Russian Federation. The decision will help develop the mechanisms and approaches necessary for the fulfillment of those commitments assumed under the cooperation arrangement.
Amending a number of its previous decisions, the Government placed the State Water Committee under the jurisdiction of the Ministry of Agriculture to increase the efficiency of irrigation management programs.
In pursuance of the presidential decree, the Government will organize the call-up for military service of 94 specialized medical staff of first-group reserve troops under the age of 35.
The government approved a bill on amendments to the law “On the application of cash registers,” which provides that the deadline for small businesses to introduce new-generation cash registers shall be carried over from January 1, 2015 to January 1, 2016.
In conclusion, the Government decided that the working days of January 8 and 9, 2015 shall be substituted with the Saturdays of December 20 and 27, 2014 respectively.
