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Daily Archives: Nov 27, 2023

EBRD expands cooperation with HSBC in Armenia

Banks
The European Bank for Reconstruction and Development (EBRD) has signed a funded Risk Sharing Framework (RSF) agreement with HSBC Bank Armenia (HSBC Armenia) to facilitate Armenian firms’ access to finance, EBRD said in a statement

Armenia’s state debt up 6.4% to $11 bln 322 million at the end of 9 months of 2023

Economy
Armenia's state debt at the end of nine months of 2023 amounted to 4 trillion 454 billion drams, up from 4 trillion 186 billion drams at the end of 2022, Deputy Finance Minister Vahan Sirunyan said today, saying also that the debt in USD and AMD terms grew by 6.4%

Asian Development Bank ready to expand joint programs with Armenia – President

Banks
Armenian Prime Minister Nikol Pashinyan received Asian Development Bank (ADB) President Masatsugu Asakawa on Monday, the government press service reported

Armenian government ends 9 months with budget surplus of 74.6 billion drams

Economy
The Armenian government ended the first 9 months of 2023 with a surplus of 74.6 billion drams, Deputy Finance Minister Vahan Sirunyan said today, when speaking at a meeting of the parliamentary committee on financial and budget issues

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Loans show faster growth than deposits in December – Finance Ministry

Financial intermediation by the Armenian banking system in December 2024 continued to outpace economic activity, also characterized by a higher growth rate of loans compared to deposits, according to the Armenian Ministry of Finance's report titled "Review of Macroeconomic Developments. December 2024." Unlike December 2023, the growth in loan volumes (24.2%) exceeded the growth in deposit volumes (13.9%).

Strong demand for mortgages and consumer loans keep interest rates high – Central Bank of Armenia

One of the phenomena faced by the Central Bank of Armenia is the huge demand for loan products, the regulator's head Martin Galstyan said at a press conference on Tuesday.

Armenia’s inflation in 2025 may approach lower threshold of target – Central Bank

The inflation target in Armenia for the current year is set at 3%, and by the end of 2025 it will most likely approach the lower limit, Central Bank Chairman Martin Galstyan said at a press conference on Tuesday.

Draft law on regulating crypto assets will soon be submitted to Armenian government

The draft law developed by the Central Bank of Armenia to regulate crypto assets will soon be submitted to the Armenian government for approval and then sent to parliament, the regulator's chairman Martin Galstyan said at a press conference today.

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