Economy

EBRD president: Armenia deserves praising, but its economy still vulnerable

YEREVAN, March 18. /ARKA/. Armenia deserves praising for shielding its financial system from risks, Thomas Mirow, the president of European Bank for Reconstruction and Development said Thursday at a news conference in Yerevan.

However, he said, the country is still vulnerable because of its dependence on money transfers – if inflow of transfers dwindle, this affects the economy.

He welcomed the Armenian president and the government’s efforts to diversify the national economy and pledged them the EBRD support on this way.

The European Bank for Reconstruction and Development has invested about $500 million in Armenia’s economy.

The bank invested $150 million in 2009 alone. M.V.-0---

 

18/03/2010 22:35


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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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