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

Banks in Armenia down their inflation outlook from 5.8% to 4.8% – regulator’s survey

YEREVAN, May 26. /ARKA/. Banks in Armenia have downed their average 12-month inflation outlook from 5.8% to 4.8%, the Central Bank of Armenia says in its inflation report based on its monetary policy for the second quarter of this year and the first quarter’s results.

The results of the current survey of financial organizations and households show that inflation outlooks for the next 12 months mitigated thanks to the radical measures taken by the central bank in late 2014, which allow the regulator to curb the financial market’s inflation outlooks prompted by geopolitical developments in the region.

Households’ inflation outlooks went down as well – to 3.7%, on average.

The survey also shows that some increase in interest rates on deposits in drams is expected at Armenia’s financial market, while interest rates on deposits in foreign currencies are expected to shed due to the regulator taken measures.

Interest rates on dram and foreign currency deposits at the country’s financial sector are expected to grow in the future.

According to the central bank’s forecast, the 12-month inflation will fluctuate between 2.5 and 5.5 percent and will come close to the projected indicator by the end of this year.

Inflation stood at 5.8% in the first quarter of this year coming close to the ceiling of the projected range.
In the government budget for 2015, inflation is projected at 4% and GDP growth at 4.1%. –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 and EIB sign financial agreement for Resilient Syunik Program worth €50 million

A financial agreement for the Armenia-Sustainable Syunik Program has been signed in Luxembourg by Armenian Minister of Finance Vahe Hovhannisyan and Vice President of the European Investment Bank (EIB) Teresa Czerwińska.

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.

LATEST NEWS

spot_imgspot_imgspot_img