Tuesday, December 20 2011 17:07

In 2012 dollarization of Armenia's economy to decline by 2.2%, monetization to grow by 9%


ArmInfo. According to the Central Bank of Armenia, in 2012 the money and AMD supply will grow by 18.2% and 20.1% respectively, and the monetary base is expected to grow by 9.7%.

The program of the CBA monetary policy for Q4 2011 says that in 2012 the AMD cash funds will increase by 13%, and the AMD deposits will grow by 28.5%, while the foreign exchange deposits will grow by 15.6%. As a result, the dollarization level in the economy will annually decline by 2.2%, and the monetization level will rise by over 9%.

By late September 2012 as compared to the same period of 2011, the lending to economy is expected to grow by 20.3% or by almost 250 bln AMD against the 36.7% growth fixed in late Q3 2011 (almost by 330 bln AMD). The growth rates forecasted for 2012 will mostly be ensured due to the mortgage loans and lending to small and medium enterprises.

The press service of the CBA told ArmInfo that by December 2011 the lending to economy grew by 37.8% as compared to the same period of 2010.

According to the source, by December 1 the annual growth of AMD aggregates exceeded the forecasted targets, particularly, the AMD supply increased by 26.5% due to the growth of AMD deposits by over 40% and cash funds by 17.2%. The annual growth of foreign exchange deposits made up 23% (excluding the impact of exchange rate changes - 16.1%), and the annual growth of money supply - 25.2%. As a result, dedollarization level dropped by 1.4%.
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