Sun, 27 July
33.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Central Bank: dollarization in Armenia believed to abate this year

YEREVAN, February 14. /ARKA/. The Central Bank of Armenia says in its monetary policy program for the first quarter of this year that dollarization in the country’s money stock is expected to subside 4.2% in 2012.

The regulator says that to tame down dollarization it plans to increase cash on hand by 13.3% and deposits in national currency by 30%, while deposits in foreign currencies will be enlarged by 12.6%.

It means the ratio of the country’s dram base to GDP will rise 10%.

The central bank also says that money and dram stock will grow 17.6% and 21.1% respectively, and monetary base will grow 8%.
According to National Statistical Service of Armenia, the country’s monetary base grew 13.6% or by AMD 80.2 billion in December 2011, compared to the previous month, to AMD 671.3 billion.

Money stock grew 5.2% or by AMD 55.8 billion in December 2011, compared with November, to AMD 1127 billion. ($1 – AMD 388.62).-0—

spot_img

POPULAR

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.

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.

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

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.

LATEST NEWS

spot_imgspot_imgspot_img