CASH FLOWS INTO ARMENIA’S BANKING SYSTEM REACH AMD 891.6BLN IN JAN-JULY 2007

YEREVAN, September 4. /ARKA/. Cash flows into Armenia’s banking system reached to AMD 891.6bln by late July after growing 40.86% or by AMD 258.6bln between January and July 2007, compared with the same period a year earlier.

Central Bank of Armenia told ARKA News Agency referring to National Statistical Service’s figures that AMD 128.3bln or 14.39% of total receipts came from currency sales.

According to the report, cash inflows received from currency sales grew 14.42% or by AMD 16.2bln and their quota in total receipts reduced by 3.33 percentage points, compared with the same period a year earlier.

In Jan-July 2007, cash expenses totaled AMD 930.7bln, of which 327.8bln or 35.22% was spent for currency purchase.

Compared with Jan-July 2006, expenses grew by 287.6bln or 44.72%. Expenses for buying currency grew 73.75% or by AMD139.1bln.

Cash expenses exceeded income by AMD 24.2bln in Jan-July 2007 while at the same period of 2006 income exceeded expenditure by AMD 10.2bln. In Jan-July 2007 currency purchase/sale deals brought the amount smaller by AMD 262.6bln than expenses. At the same period of 2006, expenses exceeded income by AMD 76.5bln. ($1 – AMD 336.48). M.V. --0—