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Monthly Archives: January, 2024

Outpacing growth of time deposits in AMD does not indicate ‘tectonic’ shifts – Central Bank of Armenia

Head of the Armenian Central Bank Martin Galstyan does not think that the outpacing growth of time deposits in AMD indicates any 'tectonic' shifts or abrupt developments in the market.

Armenian banks’ return on equity in 2023 dropped to 13.5% – Central Bank governor

In 2022 the return on equity (ROE) of Armenia's banking sector was 21.7%, while in 2023 it dropped to 13.5%, Chairman of the Central Bank Martin Galstyan said Tuesday

Consumer and mortgage loans in Armenia grow to over AMD 1 trillion in 2024 – Central Bank

Consumer and mortgage loans issued by Armenia-based comemrcial banks have grown to more than AMD 1 trillion each in early 2024, the head of the Central Bank Martin Galstyan said Tuesday

Rostelecom Armenia and NUACA launch Cloud Video Surveillance Service

Director General of Rostelecom Armenia Hayk Faramazyan and Rector of the National University of Architecture and Construction of Armenia (NUACA) Yeghiazar Vardanyan signed a "Memorandum of Cooperation" on January 29 this year, the press service of Rostelecom Armenia reported

Galstyan names two factors that influenced Central Bank’s decision to lower refinancing rate

The Chairman of the Central Bank of Armenia Martin Galstyan said today that two factors influenced the regulator's decision to lower the refinancing rate by 0.5 percentage points today, setting it at 8.75%. This is the 6th downgrade since June last year

Central Bank of Armenia lowers refinancing rate by 0.5 percentage points to 8.75%

Armenian Central Bank  has lowered today  the refinancing rate by 0.5 percentage points, setting it at 8.75%, the regulator's press service reported

 Fitch expects inflation in Armenia to rise to 3.9% on average in 2024-2025

Price growth fell into deflationary territory in Armenia in 2023 (December: -0.6%), as the effects of a strong dram, lower international food prices, and the lagged impact of a tight monetary policy were felt. Fitch's expectation of a weaker dram will result in higher inflation in 2024-25, averaging 3.9% (target: 4%), Fitch Ratings said in a report

Fitch:  Armenian government’s general debt amounted to an estimated 48.2% of GDP at end-2023

Armenian government’s general debt (GGD) amounted to an estimated 48.2% of GDP at end-2023 ('BB' median: 52%).Fitch Ratings said in a report.

Fitch Ratings has affirmed Armenia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BB-‘ with a Stable Outlook.

Fitch Ratings has affirmed Armenia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB-' with a Stable Outlook

Armenian banks’ loan portfolios in 2023 amounted to AMD 5.15 trillion

The total volume of loans issued by Armenian banks in 2023 amounted to AMD 5.15 trillion, up from  AMD 4.21 trillion issued a year earlier, according to  the Central Bank

WB: ARKA/ Armenia’s national currency  continued to depreciate gradually against  USD

Armenia's national currency, the dram,  continued to depreciate gradually against the USD, the World Bank says in its ‘Armenia Monthly Economic Update – January 2024

Armenia’s banks paid AMD 131.2 bln of taxes in 2023

Seventeen Armenia-based commercial banks  out of 18 (except for Artsakhbank) appeared in the list of 1000 largest taxpayers in 2023, having paid 131.2 billion drams in various taxes, the State Revenue Committee  (SRC) eported