USD will continue to strengthen, resulting in dollar deficit in Armenia in near future, chairman of Union of Employers said.

“The USD rate will total about AMD 460 and 520 in 2013 and 2014 respectively,” Gagik Makaryan said.

He named six sources Armenia gets USD from: export ($1,3 bln in 2011), transfers (about$2 bln in 2011), loans from international donors, tourism, various grants entering the country and reserve funds.

“These sources are mainly used by importers who need USD for foreign trade. Last year, for instance, import volume totaled $4,1 bln,” he said, adding that $1 bln will be added later to pay the external debt in the coming two years.

“The demand in USD will increase by 10-11% if the half billion divided by the total demand. Consequently, price increase is recorded in case of growth of dollar demand, whereas the volume remains unchanged,” Makaryan said.

He said that the AMD depreciation may have positive consequence for exports and RA citizens getting money transfers from abroad and negative given price increase in imports during dollar rise.