Economy

EBRD hails Armenian authorities’ bailout policy

YEREVAN, November 26. /ARKA/. Olivier Descamps, EBRD Business Group Director in South Eastern Europe, Central Asia and the Caucasus, met with Armenian Prime Minister Tigran Sargsyan in Yerevan on Tuesday, the press office of Armenian government reports.

He gave a high mark to Armenian government’s efforts to ward off the crisis and welcomed its bailout policy.

Descamps also hailed the premier’s speech in National Assembly.

He said that the EBRD intends to invest $150 million in Armenia this year hitting the historical record and added that the bank is interested in establishment of pension and insurance funds.

Descamps said EBRD would keep supporting small and medium entrepreneurs in their efforts to save energy.

The premier and the EBRD business group director also spoke about the bank’s probable participation in creation of a free economic zone in the areas adjacent to Yerevan’s Zvartnots Airport.

Prospects for construction of North-South transport corridor were discussed at the meeting as well. M.V.-0---

 

26/11/2009 09:18


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Market USD exchange rates
Market EUR exchange rates
Market exchange rates 02/09/2010
Currency Symbol Unit Rate Changes
USA Dollar USD 1 365.03 1.29
Euro EUR 1 468.19 3.8
Russian Rоublе RUR 1 11.90 0.08

Favorable еxchange rates of banks 03/09/2010
Currency Buy Sell
USD 366
ProCreditBank
 367.5
“ArmSwissBank”
Euro 467
Byblos Bank Armenia
ProCreditBank
 472
ArmBusinessBank
Armenian Development Bank
RUR 11.85
"VTB Bank (Armenia)"
BTA Bank
 12
ACBA-CREDIT AGRICOLE BANK
Ameriabank
ProCreditBank

Macroeconomics
Indicator Term Figures
economic growth,% 2010-06 106.7
GBP, billion AMD 2010-06 1332
inflation, % 2010-07 103.7
Budget deficit (proficit), bln AMD 2010-06 16.9
trade deficit, mln USD 2010-06 -1281.2
foreign trade turnover, mln USD 2010-06 2116.8
foreign trade turnover, % 2010-06 129.8
Gross External Reserves, mln. USD 2010-06 1780
Monetary base, billion AMD 2010-06 434.5
Money supply, billion AMD 2010-06 786.6

Financial market
Indicator Term Figures
Anual interests on loans
Legal entities in AMD 2010-06 13.8
Legal entities in USD 2010-06 12.6
Individuals in AMD 2010-06 22.6
Individuals in USD 2010-06 19.2
Anual interests on deposits
Legal entities in AMD 2010-06 8.4
Legal entities in USD 2010-06 7.2
Individuals in AMD 2010-06 9.8
Individuals in USD 2010-06 5.4
Annual profitability
state stock of CBA, % 2008-08 8
fiscal stock of Armenia, % 2010-06 9.6

The percents of the CBA
Indicator Term Figures
Banking rate 2010-07 13
Repo 2010-07 7.25
Credit 2010-07 10.25
Depo 2010-07 4.25



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