Tuesday, June 22 2010 14:58

Economic development lending in Armenia for Q1 2010 up 5.9%


ArmInfo. Upward trends of economic development lending in Armenia continued also in Q1 2010 and grew 5.9%. As compared to Q1 2009, this indicator grew 14.3%, says the Armenian Central Bank Monetary Policy Report for 2010.

Economic development lending in terms of US dollars grew 8.6% for Q1 2010 and 24.8% versus Q1 2009, whereas lending in terms of the national currency grew 2.9% and 4.9%, respectively. The ratio of loans in terms of the national dram to the loans in terms of dollars in the total loan portfolio was 48/52 versus 49/51 in late 2009 and 52/48 in March 2009. Dollarization of the national economy for Q1 2010 totaled 50.6% and outstripped the previous quarter's indicator by 13% and the indicator for Q1 2009 - 15.3%.

The report says that the monetization and dramization indicators for Q1 2010 were 25% and 12.9%, and exceeded the indicators for Q1 2009 38.3% and 12.7%, respectively.
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