{"id":53470,"date":"2013-04-29T16:10:13","date_gmt":"2013-04-29T16:10:13","guid":{"rendered":"https:\/\/armbanks.am\/2013\/04\/29\/238319\/"},"modified":"2024-12-15T13:04:22","modified_gmt":"2024-12-15T13:04:22","slug":"asatryan-official-rate-of-monetization-of-armenian-economy-doesnt-reflect-real-things","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2013\/04\/29\/53470\/","title":{"rendered":"Asatryan: Official rate of monetization of Armenian economy doesn\u2019t reflect real things"},"content":{"rendered":"<p><strong>YEREVAN, April 29. \/ARKA\/.<\/strong> The official rate of monetization of Armenia\u2019s economy doesn\u2019t reflect real things at the money market because shady dealings are commonplace here, Bagrat Asatryan, a former chairman of the Central Bank of Armenia, said today.<\/p>\n<p>According to the central bank\u2019s report, monetization of Armenia\u2019s economy has risen 11.9 percentage points since 2007 to 33.8% in 2012.<\/p>\n<p>Experts recommend a 70-to-80-percent monetization rate to transition economic saying such a rate is needed for supporting the necessary growth and balance between inflation and GDP growth.<br \/>\nAsatryan thinks the monetization rate was growing very slowly in Armenia throughout the last years and finds the current monetization rate quite low.<\/p>\n<p>\u201cA higher monetization rate would give more opportunities to Armenia,\u201d he said answering ARKA News Agency\u2019s question.<\/p>\n<p>Asatryan said that shady dealers prefer dollars. It gives grounds for speaking about far higher levels of dollarization than those reported by official sources.<\/p>\n<p>\u201cAnnually, inflow of private transfers to Armenia exceeds $1.5 billion, according to official statistical reports, the same amount arrives, as stated by the Central Bank, from non-official sources,\u201d he said. \u201cThus, we have about $3 billion.\u201d<\/p>\n<p>Asatryan points out that the shadow turnover of cash dollars exceeds 1 billion, and this figure will be growing year over year. He believes immense shadow turnover hinders improving economy monetization in the country.<\/p>\n<p>In general, according to the expert, monetization growth rates in the states like Armenia should outpace nominal GDP growth rates. In that case only, it is appropriate to talk about successful economic development.<\/p>\n<p>According to the National Statistical Service, Armenia\u2019s GDP grew 7.2% in 2012. -0&#8212;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The official rate of monetization of Armenia\u2019s economy doesn\u2019t reflect real things at the money market because shady dealings are commonplace here, Bagrat Asatryan, a former chairman of the Central Bank of Armenia, said today<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15837,12269,12656,315],"class_list":{"0":"post-53470","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy-en","7":"category-news","8":"tag-armenia-2","9":"tag-asatryan","10":"tag-econom","11":"tag-315"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/53470","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=53470"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/53470\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=53470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=53470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=53470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}