EDB expects another reduction in Armenia’s refinancing rate

|

USD

398.94

EUR

410.95

RUB

3.8929

GEL

140.52

Economy

04.11.2024, 10:38

Taking into account the persistent inflation below the target range of the Central Bank of Armenia (4±1.5%), the Eurasian Development Bank (EDB) expects another reduction in the refinancing rate in December.

EDB expects another reduction in Armenia’s refinancing rate

YEREVAN, November 4. /ARKA/. Taking into account the persistent inflation below the target range of the Central Bank of Armenia (4±1.5%), the Eurasian Development Bank (EDB) expects another reduction in the refinancing rate in December.

"The Central Bank of Armenia reduced the refinancing rate by 0.25 percentage points to 7.25% at its meeting on October 29. This decision was made against a backdrop of weak inflation, attributed to falling international prices for goods and raw materials, slower wage growth, and subdued inflation expectations. Consumer price growth was 0.6% year-on-year in September, down from 1.3% year-on-year in August," the EDB weekly macro review reports.

This marks the 12th consecutive reduction in the refinancing rate since June of last year, when the rate stood at 10.5%, and the seventh cut since the start of the current year (from 8.75% in January). -0-

WB improves Armenia's economic growth forecast for 2025

The World Bank expects Armenia's economy to grow by 5% in 2025 and by 4.6% in 2026. This forecast is included in the World Bank's January 2025 Global Economic Prospects report.

17.01.2025 09:42

Armenia benefits most from EEU membership - Russian Deputy Prime Minister

Armenia's economic growth shows that it benefits most from its membership in the Eurasian Economic Union (EEU), Russian Deputy Prime Minister Alexei Overchuk said today.

15.01.2025 17:03

Cargo traffic in Armenia decreased by 10.2 per cent in 11 months, while passenger traffic grew by 18.1 per cent

The total volume of cargo traffic in Armenia in January-November 2024 dropped by 10.2% compared to the same period of 2023 to over 15.2 million tons, while the total number of passenger traffic upped by 18% to over 204.2 million people, according to the National Statistics Committee.

15.01.2025 16:24

U.S. invests $3.3B in Armenia for reforms, economy, and aid

The United States has invested approximately $3.3 billion in Armenia to support democratic reforms, economic growth and resilience, and humanitarian aid, according to a statement from the US Embassy in Armenia following the signing of the Charter on Strategic Partnership between the two countries in Washington on January 14.

15.01.2025 14:40

Electric Networks of Armenia issued bonds for $20 million and AMD 7.7 billion

Electric Networks of Armenia (ENA) CJSC has issued bonds totaling $20 million and 7.7 billion drams, according to the company's press service.

15.01.2025 14:35

Armenia's ministries of economy and finance to swap responsibilities

The Committee on Economic Affairs of the Armenian Parliament has approved, in the first reading, a bill that proposes an exchange of responsibilities between the Ministries of Economy and Finance.

15.01.2025 12:38

Armenia to participate in "PRODEXPO 2025" with separate pavilion

Armenia will participate in the 32nd International Exhibition of Food and Beverages "PRODEXPO 2025" with a separate pavilion, which will take place from February 3-7 in Moscow.

15.01.2025 12:34

Armenia's service sector grows 6.3%, exceeds 3 trillion drams

The volume of the service sector in Armenia for January-November 2024 amounted to 3,026,624.6 million drams (in current prices), reflecting a 6.3% increase compared to the same period in 2023, according to the National Statistical Committee of the country.

15.01.2025 11:25