ArmInfo. The external inflationary impact on the Armenian economy continues to weaken significantly. Governor of the Central Bank of the Republic of Armenia, Martin Galstyan, said on March 12 at a press conference on the reduction of the refinancing rate to 8.5% from 8.75%, noting that lowering the key rate is necessary to achieve the target inflation level of 4% and ensure price stability in the medium term.

ArmInfo.The Eurasian Development Bank (EDB) forecasts 5.7% GDP growth in Armenia in 2024. 

ArmInfo.

ArmInfo. The Eurasian Development Bank (EDB) has released the latest Macroeconomic Review for its six member states. This regular publication provides a roundup of the macroeconomic situation and projects near-term developments in the member countries. The review also contains detailed statistics on key macroeconomic indicators.

ArmInfo.The Eurasian Development Bank upgraded its forecast for the growth of the Armenian  economy in 2023 to 7.5%. Earlier, the Bank forecasted the growth of the country's GDP up to 4.2%. This is stated in the next Macroeconomic Review of the EDB.  According to the source, economic activity in Armenia increased by 10.4% y/y in Jan-July after 11.4% y/y in Jan-June.

ArmInfo. The growth rate of economic activity in Armenia accelerated to 12.2% per year in Q1 2023 (from  9.6% in the first quarter of 2022), far exceeding even the pre-Covid 6.5% growth in Q1 2019. According to the final data of the RA Statistical Committee, growth was demonstrated by all sectors, except for the energy complex, moreover, the service sector, the trade sector and the construction sector continue to be the drivers of  economic growth.

ArmInfo.In Armenia, the growth of economic activity in Q12023 accelerated to 12.2% per annum (from  9.6% Q1 2022), far exceeding even the pre-Covid 6.5% growth in Q1  2019.

ArmInfo. The services sector remains the main driver of economic growth in Armenia.  Inflation remained unchanged  in February. The negative balance of merchandise trade declined against the backdrop of faster growth in the value of exports over  imports. The course of dram has risen. This is stated in the March "Macro Review", prepared by analysts of the Eurasian Development Bank  (EDB).

ArmInfo.The Eurasian Development Bank (EDB) forecasts 7.2% inflation in Armenia by the end of the 1st quarter of  this year. This February, 8.1% inflation was recorded in Armenia - no change as against this January. 

ArmInfo.Haykaz Fanyan, director of the Modex consulting company, warns of the danger of a repetition of the "South Korean scenario" in Armenia and calls on the  authorities to "blow off" the mortgage bubble in the real estate  market.

ArmInfo.The day Russian relocated employees go back to Russia with their capital, Armenia's economic growth will "burst like a soap-bubble," economist Suren  Parsyan said in an interview with ArmInfo. 

ArmInfo. The Central Bank expects that the inflationary impact on the Armenian economy emanating from the external sector will weaken. Chairman of the  Central Bank of the Republic of Armenia Martin Galstyan stated this  on January 31 at a press conference.

ArmInfo. Central The Bank of Armenia has left unchanged its economic growth forecast for 2023. As RA Central Bank Chairman Martin Galstyan noted at a press conference on January 31, this year Armenia's GDP growth will be 4.6% and the  main drivers will be construction, industry and services.

ArmInfo.With the current quality and level of investment, there is no need to talk about the growth of the economy's potential. Former Minister of Finance of  Armenia Vardan Aramyan expressed a similar opinion in an interview  with the Public Television.

ArmInfo.

ArmInfo. The Executive Board of the International Monetary Fund (IMF) approved SDR 128.8 million (about US$171.1 million) 36-Month Stand-By Arrangement (SBA) for  Armenia to help maintain macroeconomic stability, provide insurance  against downside risks, and support structural reform agenda.

ArmInfo.

ArmInfo.The Armenian authorities and IMF staff reached a staff- level agreement on a  3-year precautionary Stand-By Arrangement (SBA). The agreement is  subject to approval by the IMF Executive Board and is expected to be  considered in December 2022, the IMF reports.

ArmInfo.

ArmInfo. The economy cannot  grow above its potential for a long time. This was stated on November  1 by Chairman of the Central Bank of Armenia Martin Galstyan,  answering a question from an ArmInfo correspondent during the press  conference regarding the next increase of the refinancing rate (from  10% to 10.5%).