YEREVAN, September 15. /ARKA/. The Board of the Central Bank of Armenia decided Tuesday at its meeting to reduce the refinancing rate by 0.25 percentage points and set it at 4.25%, the press service of the regulator reports.
The rate of the Lombard repo provided by the Central Bank is 5.75%, and the rate on funds attracted by the Central Bank from other banks is 2.75%.
The last time the Central Bank of Armenia at a meeting on July 28 left unchanged the refinancing rate at 4.5%.
On April 29, 2020, the National Assembly of Armenia approved the revision of budget indicators to because of the COVID-19 pandemic. Taking into account the unfavorable impact of the coronavirus, the budget forecast for GDP was lowered to a decline of 2%, while earlier, a 4.9% growth was projected in the government budget for 2020. The budget deficit was increased to 340 billion drams, or 5% of GDP (previously 2.3%). –0–
