YEREVAN, September 13. /ARKA/. Interest rates on loans in Armenia have decreased by approximately 4-5% in recent years, the deputy chairman of the Central Bank Nerses Yeritsyan told the parliament today.
According to the Central Bank, the interest rates on deposits in Armenian drams maturing in 12 months were 8.8% in July 2017, down from 12.3% in July 2016 and 14.4% in July 2015. The average interest rate on loans in drams was 13.69%, down from 17.5% in July 2016 and 18.8% in July 2015.
Yeritsyan noted that the drop was prompted by the decisions of the central bank to cut the refinancing rate.
He said the refinancing rate has been at 6% for already one year. The rate has been gradually reduced since 2014.
The Central Bank suspended monetary policy easing in March this year. In 2016 alone, the refinancing rate was lowered 8 times. -0-
