СBA: Money supply to grow 14-16% in Armenia in 2009 against 2.3% in 2008

07.12.2009 17:50
СBA: Money supply to grow 14-16% in Armenia in 2009 against 2.3% in 2008

YEREVAN, December 7. /ARKA/. Money supply is to grow 14-16% in Armenia in 2009 against 2.3% in 2008, and monetary base 10-12% against 5.3%, the Central Bank of Armenia says in its monetary policy program for the fourth quarter of this year.

The central bank predicts quite high growth of the mentioned indicators in the fourth quarter – 9.4% and 8.3% accordingly.

As a result, the average quarterly growth for three quarters of 2010 is expected to be recorded at 4% and 3.6% accordingly.

The share of drams will continue growing over the next year.

Quarterly growth of cash in circulation will average 8%, and dram deposits 5%.

Dollarization growth is expected to slow down, and financial sector and the economy as a whole are expected to rally in 2010.

As a result, quarterly growth of deposits in foreign currencies will average 3.6% in 2010.

The central bank also the crediting of the economy will grow 9.7% and quarterly growth will average 3% in 2010. --0--


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