Thu, 31 July
34.1 C
Yerevan
USD: 383.84 RUB: 4.70 EUR: 442.91 GEL: 141.90 GBP: 512.96

Tariffs for cargo transportation of SCR in 2012 to reduce by 9%

YEREVAN, December 7. /ARKA/. Refinancing rate of Central Bank of Armenia which is now 8% should be gradually decreased, considers the Head of Union of Domestic Commodity Manufacturers of Armenia Vazgen Safaryan.

CBA Board on December 6 adopted decision on keeping refinancing rate on the level of 8%. CBA noted the lack of inflation pressures in Armenia coming from global economy, and expects that under the conditions of assumed delay of worldwide price increase, prices of raw-material and food commodity markets will not change significantly.

“Banking percent rates formed in the internal market should promote export”, he said.

Average credit rates provided in the industrial sphere, should not exceed 8-9%.

According to CBA data, average percent rate of credits provided in the industrial sphere was 17.9% in October.

Safaryan considers that national currency should be devalued against USD which also promotes export.

New strategy of export-oriented industrial policy for 2012-2020 developed by the group of experts assigned by the World Bank and with the assistance of the Economy Ministry, was presented on December 4 by the Government of Armenia. It is targeted at the establishment of the developed industrial system for export promotion which, in its turn, will become an incentive for the production of goods corresponding international standards, expansion of foreign markets and creation of new job places. –0–

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

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

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

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

LATEST NEWS

spot_imgspot_imgspot_img