Mon, 30 June
16.1 C
Yerevan
USD: 384.32 RUB: 4.89 EUR: 450.23 GEL: 141.11 GBP: 527.56

Armenian economy may grow by 2%, HSBC Bank Armenia

YEREVAN, March 26, /ARKA/. HSBC Bank Armenia CEO, Astrid Clifford, said today Armenian economy may grow this year by 2%.

“I can not make concrete forecasts, because everything may change,’ she told a news conference today, adding that the situation in virtually all sectors of economy, except for construction is improving, Armenia’s Gross Domestic Product increased by 3.1 percent in the first two months of this year, the latest government statistics said.

The year-on-year figure was up from a GDP growth rate of 2.4 percent registered by the National Statistical Service (NSS) in January. The growth came after last year’s 14.4 percent contraction of the Armenian economy. The Armenian government and Western lending institutions forecast late last year that the economy will expand by only 1.2 percent in 2010. ($1 – 393.54 Drams). -0-

spot_img

POPULAR

ADB lowers Armenia’s economic growth forecast for 2025 to 5%, 4.7% expected in 2026

The Asian Development Bank has lowered Armenia's economic growth forecast for 2025 to 5%, said Don Lambert, ADB Country Director for Armenia.

Armenia’s top 5 banks by asset size for Q3 2023

According to ARKA news agency's quarterly bulletin 'Banks of Armenia,' the top 5 commercial banks of Armenia by asset size as of 30.09.2023 were Ardshinbank, Ameriabank,  Armbusinessbank, Acba Bank and Inecobank

US dollar exchange rate unchanged, euro and ruble rise

The average market exchange rate of the U.S. dollar to the Armenian dram on March 7, 2025, remained at 394.58 drams, unchanged compared to March 6.

ADB forecasts inflation in Armenia at 3% in 2025 and 2.8% in 2026

The Asian Development Bank (ADB) forecasts inflation in Armenia at 3% in 2025, said Don Lambert, Director of the Bank’s Resident Mission in Armenia.

Byblos Bank Armenia becomes CaseKey strategic partner

Byblos Bank Armenia has become the strategic partner of the CaseKey Business Case Competition, emphasizing the importance of continuous investment in promising educational programs.

LATEST NEWS

spot_imgspot_imgspot_img