Lending to Armenian production sector in 2009-2012 increased by 12 percentage points to 33.3% in total lending

Economy

YEREVAN, May 29. / ARKA /. Central Bank of Armenia governor, Artur Javadian, said today the lending to production sector in 2009-2012 increased by 12 percentage points to 33.3% in the total lending, which increased in turn the GDP potential.

Speaking at a parliamentary debate on 2012 budget performance, Javadyan said the lending to industry grew by 30 percent annually contributing greatly to overall economic growth in recent years.

He said the bulk of lending was channeled into industry, agriculture, transport and communications sectors. Total loans of commercial banks in the first quarter of 2013 amounted to 1.646.6 trillion  drams ($ 1-416. drams) . -0 –

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