Armenian Central Bank projects 16% growth in money supply and 12.3% growth in monetary base

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Economy

04.02.2011, 22:06

The Central Bank of Armenia projects 16% growth in money supply and 12.3% growth in monetary base, the Central Bank of Armenia says in its monetary program for 2011.

YEREVAN, February 4. /ARKA/. The Central Bank of Armenia projects 16% growth in money supply and 12.3% growth in monetary base, the Central Bank of Armenia says in its monetary program for 2011.

The regulator also expects precipitous growth in the national currency supply. Its growth will outdo money supply this year.

The central bank also intends to phase out the usage of U.S. dollars and tighten monetary conditions.

Dram deposits will vigorously grow leaving those in foreign currencies behind – 35.2% and 7.6% respectively against 29.0% and 7.0% in 2010.

Cash in drams in circulation is projected to grow by 13.0% - twice greater than in 2010.-0-

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