Friday, November 16 2012 22:53
Money stock of Armenia up 23%
Arminfo. The money stock of Armenia grew by 23% by the end of October 2012 versus October 2011, and the Armenian currency stock - by 18,4%, press-service of Central Bank reported.
The dram deposits over the reported period grew by 30,2% and the foreign currency ones - by 29,4% (or 21,2% - excluding influence of the foreign currency exchange rate.
As Central Bank reported, high rates of the economy crediting will be preserved and the foreign currency credits prevail in economy crediting, which grew by 27,9% versus October 2011.
As Central Bank predicted, the money and Armenian currency stock will grow by 17,6% and 21,1% respectively in 2012. And the monetary base will grow by 8%. The circulated cash will grow by 13,3% in 2012. The volume of the dram deposits will grow by 30%, and of the foreign currency ones - by 12,6%. As a result, economy dollarization level will drop by 4,2% versus 2011 and the monetization level will grow by more than 10%. The economy crediting volumes will grow by 20,2% (by 270 bln drams). The predicted growth rates for 2012 will be chiefly provided by mortgage and crediting of small and medium-sized business.
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