Economy @en

Central bank chairman predicts bigger than expected GDP drop in 2020

25.06.2020 22:04

Central bank chairman predicts bigger than expected GDP drop in 2020

Armenia’s GDP will decline more by the end of 2020 than most of the forecasts predict, the chairman of the Central Bank Martin Galstyan stated at a parliamentary meeting on Thursday

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Ratio of Armenia’s public debt to GDP at the end of the year is expected to reach 50-60% - Janjughazyan

25.06.2020 12:12

Ratio of Armenia’s public debt to GDP at the end of the year is expected to reach 50-60% - Janjughazyan

The ratio of Armenia’s public debt to GDP at the end of the year is expected to reach 50-60%, Armenian Finance Minister Atom Janjughazyan said Wednesday at an extraordinary meeting of the country’s parliament

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Central bank is monitoring price stability

24.06.2020 19:54

Central bank is monitoring price stability

The Central Bank of Armenia is monitoring price stability to prevent a drop in the purchasing power of citizens, Central Bank Chairman Martin Galstyan said at an extraordinary parliamentary meeting on Wednesday

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Armenian parliament is considering ratification of $315 million loan agreement with IMF

24.06.2020 17:16

Armenian parliament is considering ratification of $315 million loan agreement with IMF

An emergency session of the Armenian parliament discussed today ratification of an agreement with the IMF regarding the use of the $280 million loan, allocated to Armenia in May 2019, and attraction of an additional loan in the amount of $35 million. The money is to help Armenia fight the coronavirus outbreak and mitigate its economic consequences

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No shortage of budgetary funds and financial threat to national security in Armenia

24.06.2020 16:49

No shortage of budgetary funds and financial threat to national security in Armenia

There is no shortage of budgetary funds and a financial threat to national security in Armenia, Deputy Finance Minister Armen Hayrapetyan said Wednesday at an extraordinary parliamentary meeting answering an MP’s question that the authorities are spending reserve funds in a difficult situation, and thereby pose a threat to national security

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Armenia's central bank cuts refinancing rate by 0.5 percentage points, setting it at 4.5%

16.06.2020 19:24

Armenia's central bank cuts refinancing rate by 0.5 percentage points, setting it at 4.5%

Armenia’s Central Bank has cut today the refinancing rate by 0.5 percentage points, setting it at 4.5%. It said the 12-month inflation in May 2020 rose to 1.2%

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Average annual inflation in Armenia in 2008-2019 was 3.9%, outgoing chairman of central bank says

12.06.2020 20:30

Average annual inflation in Armenia in 2008-2019 was 3.9%, outgoing chairman of central bank says

The average annual inflation in Armenia in 2008-2019 was 3.9%, the outgoing chairman of the Central Bank Artur Javadyan said today

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Armenian central bank's strategy is to enhance dramatic rise in non-cash instruments

12.06.2020 16:55

Armenian central bank's strategy is to enhance dramatic rise in non-cash instruments

Armenia’s Central Bank’s strategy is to help enhance a dramatic rise in non-cash instruments, Central Bank Chairman Artur Javadyan said in an interview with ‘Haykakan Zhamanak’ daily

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Vice-premier does not rule out increase in Armenia’s foreign debt amid world recession

12.06.2020 12:19

Vice-premier does not rule out increase in Armenia’s foreign debt amid world recession

Armenia’s foreign debt may increase amid the global recession, Vice-Premier Mher Grigoryan told reporters on Thursday in the National Assembly. “It is possible that external debt will increase. I consider this a normal process, as there is a recession throughout the world,” he said

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EBRD provides Inecobank with us$ 25 million loan to expand access to finance for Armenian businesses amid COVID-19 crisis

10.06.2020 17:36

EBRD provides Inecobank with us$ 25 million loan to expand access to finance for Armenian businesses amid COVID-19 crisis

The European Bank for Reconstruction and Development (EBRD) is providing a US$ 25 million loan to InecoBank, a longstanding partner bank in Armenia, for extending support to private companies that have been affected by the economic impact of the coronavirus pandemic

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