Friday, January 20 2012 16:53
Economy crediting volume in Armenia up 34,1% for 2011
Arminfo. The volumes of economy crediting in Armenia by the end of 2011 grew by 34,1%, press-service of Central Bank reported.
The growth of the Armenian dram aggregate as of 1 January 2012 exceeded the predicted level. In particular, the dram supply grew by 24,4% thanks to the growth of the dram deposits by more than 38,5% and the circulated cash - by 14,3%. The foreign current deposits grew by 18,6% (excluding changing of the exchange rate - 12,5%), and the money supply - by 21,9% versus the previous year. As a result, the dollarization level dropped by 2,7%.
As Armenian Central Bank predicted, in 2012 the money and dram supply will grow by 18,2% and 20,1% respectively. As for the monetary base, it will grow by 9,7%. The circulated dram cash will grow by 13% in 2012. For this reason, the volume of the dram deposits will grow by 28,5%, and the foreign currency deposits - by 15,6%. As a result, the dollarization level in the economy will drop by 2,2%, and the monetization level will grow by more than 9%.
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