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JANUARY 21. The Central Bank's most important task in 2002 is securing price stability, and the price level is to fluctuate within 3%, CB President Tigran Sargssian said. According to him, this task will be accomplished, as Armenia's economy has been successfully operating at a low inflation during the last few years. Sargssian said that in 2002 potential investors in Armenia's economy will be provided with guarantees of long-lasting financial stability. Speaking of the peculiarities of 2002, Sargssian stressed the expected sharp increase of state financial transfers. In particular, a considerable increase in funds allocated under programs of the "Lincy" foundation is expected. The task is in smoothing financial flows, for sharp fluctuations on the market to be avoided. Sargssian said that this task will also be accomplished. Another peculiarity is, according to Sargssian, timely neutralization of negative price consequences of nonrecurrent emission of credits of the World Bank to the market. There are also risks related to the volume of implementation of international investment programs. At the same time, Sargssian said that real conditions for further economic growth are created in Armenia, which are based on the macroeconomic stablity achieved during the last four years, as well as on the plans to implement a number of large-scale investment programs that are under the Armenian authorities' control.

21 January