EDB expects Armenia's refinancing rate cut cycle to end in H1 2025

|

USD

396.56

EUR

413.89

RUB

3.71

GEL

141.38

Economy

16.12.2024, 13:04

The Eurasian Development Bank (EDB) expects Armenia's refinancing rate cut cycle to end in H1 2025 as inflation approaches the Central Bank’s target range (3% +/- 1%).

EDB expects Armenia's refinancing rate cut cycle to end in H1 2025

YEREVAN, December 16. /ARKA/. The Eurasian Development Bank (EDB) expects Armenia's refinancing rate cut cycle to end in H1 2025 as inflation approaches the Central Bank’s target range (3% +/- 1%).

"The Central Bank of Armenia reduced the refinancing rate by 0.25 percentage points to 7.0% at its meeting on December 10. The decision was made amid slowing wage growth and lower inflation expectations. Consumer price growth was 1.4% y/y in November, compared to 0.6% y/y in October," the EDB weekly macro review states.

Armenia’s state budget for 2025 , approved on December 4, sets the 12-month inflation target at 3% with an acceptable range of ±1 percentage point.

The Central Bank decided to lower the target, which had been set at 4% (±1.5 percentage points) since 2006, believing that the Armenian economy is ready for a new stage of development.

According to forecasts by Central Bank Governor Martin Galstyan, Armenia will approach the target inflation rate next year, and this year it will remain below 4%.-0-

National Weather Center plans to purchase two modern weather radars in 2026

In 2026, the Hydrometeorology and Monitoring Center of Armenia plans to purchase two new weather radars, the center's director, Levon Azizyan, announced at a press conference.

30.12.2024 15:29

Lake Sevan's water level rose by 22 cm in 2024 – National Weather Center

The water level in Lake Sevan as of December 30 was 1900.39 meters, which is 22 cm higher compared to the same period last year, said Levon Azizyan, director of the Hydrometeorology and Monitoring Center.

30.12.2024 12:12

EDB names reason behind Armenia's economic slowdown in November

Analysts from the Eurasian Development Bank (EDB) have analyzed the reasons behind the slowdown in economic activity in Armenia in November this year.

30.12.2024 10:40

Armenian government amends loan agreement with EDB on allocation of $200 million from ESDF for construction of Kajaran tunnel

On Friday, the Armenian government approved the proposal to sign an additional agreement No. 1 to the agreement between the Republic of Armenia and the Eurasian Development Bank (EDB) on the provision of an investment loan in the amount of $200 million to finance the construction of the Kajaran tunnel.

27.12.2024 16:27

Benefits for highly qualified specialists to be reduced in Armenia

At a meeting on Friday, the Armenian government approved a decision to extend the program for subsidizing leasing contracts and loans for industry until December 31, 2025. This program, which was in effect from March 26, 2020, to December 1, 2024, includes a component for compensating the salaries of highly qualified specialists.

27.12.2024 13:56

Armenia to extend subsidy program for industry leasing and loans

At a meeting on Thursday, the Armenian government approved a decision to extend the program of subsidizing leasing contracts and loans for industry until December 31, 2025. The program had previously been in effect from March 26, 2020, to December 1, 2024.

27.12.2024 13:15

Armenia to revamp benefits system placing focus on employment

The Armenian authorities are planning to change their approach to providing benefits to the working-age population.

27.12.2024 12:44

Armenia and Japan sign convention on avoidance of double taxation

Armenian Finance Minister Vahe Hovhannisyan and the Ambassador Extraordinary and Plenipotentiary of Japan to Armenia, Aoki Yutaka, signed the Convention on the Avoidance of Double Taxation of Income between the Republic of Armenia and Japan, as well as the Prevention of Fiscal Evasion and Avoidance, on Thursday, the

27.12.2024 10:49