{"id":135528,"date":"2021-09-27T15:06:19","date_gmt":"2021-09-27T15:06:19","guid":{"rendered":"https:\/\/armbanks.am\/2021\/09\/27\/250007\/"},"modified":"2024-12-15T13:45:32","modified_gmt":"2024-12-15T13:45:32","slug":"fitch-forecasts-7-4-for-armenia-in-2021","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2021\/09\/27\/135528\/","title":{"rendered":"Fitch forecasts 7.4% for Armenia in 2021"},"content":{"rendered":"\n<p><strong>YEREVAN, September 27, \/ARKA\/.<\/strong>\u00a0Fitch Ratings has affirmed Armenia&#8217;s Long-Term Foreign-Currency Issuer Default Rating (IDR) at &#8216;B+&#8217; with a Stable Outlook, saying also that inflation accelerated to 8.8% yoy in August 2021, above the Central Bank of Armenia&#8217;s (CBA) target of 4.0%, driven primarily by global pressures on food prices (15.1% yoy), rebounding demand from the 2020 recession, and bottlenecks in supply chains.<\/p>\n\n\n\n<p>Fitch forecasts inflation to average 7.4% in 2021, moderating to average 5.0% and 4.0% in 2022-23 as supply chains and production adjust.<\/p>\n\n\n\n<p>The CBA has raised its policy rate by a cumulative 300bp to 7.25% between December 2020 and September 2021 in response to domestic inflation pressures. An increase in banks&#8217; dram reserve requirements, aimed at enhancing monetary transmission, has also had the effect of tightening monetary conditions.<\/p>\n\n\n\n<p>An unexpected monetary tightening by major central banks to curb rising global inflation could lead to pressure on the CBA to further tighten rates, according to Fitch Ratings. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fitch Ratings has affirmed Armenia&#8217;s Long-Term Foreign-Currency Issuer Default Rating (IDR) at &#8216;B+&#8217; with a Stable Outlook, saying also that inflation accelerated to 8.8% yoy in August 2021, above the Central Bank of Armenia&#8217;s (CBA) target of 4.0%, driven primarily by global pressures on food prices (15.1% yoy), rebounding demand from the 2020 recession, and bottlenecks in supply chains<\/p>\n","protected":false},"author":1,"featured_media":156558,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15837,15645,2177],"class_list":{"0":"post-135528","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy-en","8":"category-news","9":"tag-armenia-2","10":"tag-fitch-2","11":"tag-fitch-ratings"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/135528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=135528"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/135528\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/156558"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=135528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=135528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=135528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}