Saturday, October 22 2011 17:35

Growth rates of lending to economy slow down in Armenia


ArmInfo. The growth rates of lending to economy have slowed down in Armenia. The press service of the Central Bank of Armenia told ArmInfo that over Q3 2011 the annual growth of crediting made up 33.9% against the previous 37% growth. Lending in AMD annually grew by 24%, while lending in foreign exchange grew by 40% (exclusive of the impact of the exchange rate fluctuations).

Despite the similar annual growth of AMD and monetary stocks (by 24-25%), the outrunning growth of AMD deposits as compared with the growth of foreign exchange deposits – by 41.1% and 23.7% respectively. The foreign exchange deposits in Q3 2011 declined by 2.7% (excluding the impact of the foreign exchange fluctuations). As a result, over Q3 2011 the level of dedollarization dropped by 0.7% (y-o-y reduction being 0.5%).
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