Wed, 10 September
24.1 C
Yerevan
USD: 382.95 RUB: 4.60 EUR: 450.04 GEL: 142.25 GBP: 519.82

Central Bank specifies Armenia’s last year GDP growth

YEREVAN, April 26, /ARKA/. Armenia’s economic growth last year was 2.1%, according to the specified data of the Central Bank, down from 2.6% growth announced earlier by the government.

Speaking at a news conference Vahe Vardanian, head of a Central Bank department in charge of financial development and stability, said the GDP growth would have been much higher had not the agriculture suffered a dramatic decline of 15%.

He said the 9.5% growth in industrial sector was the indicator of a post-crisis recovery, backed by stepped up lending, which grew last year by 28%. The growth was supported also by government’s channeling of funds into export-oriented sectors.

Vahe Vardanian said last year was marked by a substantial, 30% cut of budget deficit to 2.9% by yearend. This, he said, had a positive effect on financial stability. In comments on a 9.4% inflation rise he said its bulk was brought from outside the country due to higher international prices of foods. However, Armenia also benefited from rise of prices of raw commodities, like copper and molybdenum. -0-

spot_img

POPULAR

3.6% inflation registered in Armenia in August

n the consumer market of Armenia, 12-month inflation in August of this year amounted to 3.6%, according to the report of the National Statistical Committee (NSC) of Armenia.

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Armenia to receive 45.3 million euros from ADB to improve healthcare quality

Armenia will receive 45.3 million euros from the Asian Development Bank (ADB) to improve healthcare quality, said First Deputy Minister of Health of the Republic of Armenia Lena Nanushyan during a meeting of the parliamentary standing committee on financial, credit and budgetary issues.

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

Freedom Broker Armenia ranks as one of the largest taxpayer in Armenia

Freedom Broker Armenia has been recognized as one of the largest taxpayers in the country, underscoring its leadership in the investment sector and commitment to sustainable business practices.

LATEST NEWS

spot_imgspot_imgspot_img