Friday, March 16 2012 18:53
Economy crediting growth rates in Armenia are still high
ArmInfo. Economy crediting growth rates in Armenia are still high. The press service of the Central Bank of Armenia (CBA) told ArmInfo that in Feb 2012 economy crediting grew by 34.4% versus Feb 2011.
The source says that over the period under review the growth rates of AMD supply considerably outstripped the growth rates of money supply and totaled 28.2% due to the increase of AMD deposits by 40.4% versus Feb 2011. In the meantime, foreign exchange deposits were up 21.1% versus Feb 2011 (or by 14.2%, excluding the impact of the exchange rate fluctuations). As a result, dollarization dropped by 1.4 points or by more than 3.8%.
According to the CBA's forecasts, in 2012 the money and AMD supply will grow by 18.2% and 20.1% respectively, while the monetary base will be up 9.7%. The AMD cash funds will increase by 13% in 2012, and the volume of AMD deposits will grow by 28.5%, while foreign exchange deposits will grow by 15.6%.
As a result, dollarization in economy will drop by 2.2%, and monetization will rise by more than 9%. By late September 2012 economy crediting will grow by 20.3% or by almost 250 bln AMD as compared to the same period of 2011, the source says. The growth rates forecasted for 2012 will mostly be ensured by provision of mortgages, as well as loans to small and medium enterprises.
Active consumer lending causes double-digit growth in bad loans 
Luys Foundation: Armenian government continues to face challenges in budget planning
Armenia`s brandy and winemaking industry in crisis - economist 
Even at embryonic stage, powerful impetus given to economic activity in energy sector - ENA acting manager 
Armenian NA OKs ENA nationalization 
China preparing to open new chapter of One Belt, One Road initiative with involvement of Armenia - diplomat 
The Merger between "Ardshinbank" CJSC and "Ardshininvestbank" CJSC Has Been Completed
Ticket packets 1.2% of total number of transport tickets in Yerevan