Sat, 14 June
22.1 C
Yerevan
USD: 384.44 RUB: 4.83 EUR: 434.11 GEL: 140.51 GBP: 515.15

Armenian economy stabilizing: MP

YEREVAN, June 30, /ARKA/. A senior member of the Armenian parliament  said today the economic situation will have stabilized this year. Speaking at a news conference, Vartan Bostanjian, a deputy chairman of a parliament  committee on economic issues, said  the economy last year was in the state of coma. According to him, the economy  is not going to suffer a similar drastic downturn any more.

According to official statistics, Armenia’s gross domestic product (GDP) rose 8.8 percent in the first five months of 2010 compared with the same period of the previous year. Officials had previously forecast 1.2 percent growth this year after GDP contracted by over 14 percent in 2009.

The construction and industrial sectors grew by 12.5 (108.8 billion Drams)  and 12.0 percent  (305.1 billion Drams) respectively in the first five months of the year. In nominal terms, GDP grew to 1.0 trillion drams ($2.7 billion). According to Bostanjian, the economic growth will be driven by construction, industry, mining and IT sectors.  ($1 – 368.11 Drams). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

US dollar exchange rate slightly down, those of euro and ruble up

The average market exchange rate of the U.S. dollar to the Armenian dram on May 13, 2025, decreased by 0.78 points compared to May 12 and amounted to 388.08 drams.

High profitability of Armenian banks in 2024 was facilitated by growth in net interest income and low level of credit losses – Galstyan

High profitability was recorded in the banking system of Armenia at the end of 2024, which was facilitated by growth in net interest income and low level of credit losses, said Martin Galstyan, Chairman of the Central Bank of the Republic, presenting the financial stability report for 2024.

Euro and dollar exchange rates to the Armenian dram fell, the ruble rose slightly

The average market exchange rate of the US dollar to the Armenian dram, formed on the Armenian currency market as of June 9, 2025, fell by 0.36 points compared to June 6 and amounted to 383.46 drams.

LATEST NEWS

spot_imgspot_imgspot_img