Fri, 4 April
13.1 C
Yerevan
USD: 391.32 RUB: 4.67 EUR: 432.53 GEL: 141.78 GBP: 514.27
spot_img

High consumer demand in Armenia indicates that inflation risks will persist, according to Eurasian Development Bank

YEREVAN, March 20. /ARKA/. High consumer demand in Armenia indicates that inflation risks will persist, according to the Eurasian Development Bank (EDB) analysts.

“On March 14 the Central Bank of the Republic of Armenia decided to keep the refinancing rate unchanged at 10.75%. The regulator noted the weakening of external price pressure on the Armenian economy, strengthening of the dram and tightening of monetary policy among disinflationary factors. At the same time, a high level of consumer demand indicates that inflation risks persist,’ the EDB said.

‘In January and February, Armenia’s consumer price index growth remained at 8.1% y/y, while core inflation slowed to 8.4% y/y in February from 9.1% y/y a month earlier,’ the EDB said in its weekly macro review.

The head of the Central Bank of Armenia Martin Galstyan stated earlier in March that the 12-month inflation, according to the monetary policy scenario, will gradually slow down and stabilize around the target rate of 4% from the second half of 2023.

The regulator last changed the refinancing rate on December 13, raising it by 0.25 percentage points to 10.75%.

Armenian government’s growth projection for 2023 is 7%, and the inflation is set at 4% (±1.5%). -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Top 10 banks of Armenia by loan portfolio for 1st H 2020

ARKA News Agency has singled out ten banks for their big loan portfolios as of June 30, 2020

S&P reaffirms Armenia’s sovereign credit ratings with stable outlook

On August 23, international credit rating agency S&P Global Ratings reaffirmed Armenia's long-term and short-term sovereign credit ratings in both foreign and local currency at "BB-/B." The agency also maintained its "stable" outlook for the country.

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

LATEST NEWS

spot_imgspot_imgspot_img