Publications

Publications

Publications

(2024/1) 2024 Q1 Monetary Policy Report Monetary Policy Program 2024-03-12 14:32

2024 Q1. Monetary Policy Report. Monetary Policy Program Summary of Economic ConditionsGlobal Economy - In 2023H2, economic activity among Armenia’s main trading partners, has been mixed; however, the risks of weaker economic activity going forward are high. The US and Russia both continue to experience high rates of growth, despite continued contractionary monetary policy. On the other hand, the Eurozone is on the precipice of a recession,...

Statistical overview (February. 2024) 2024-02-28 11:07

Statistical overview The Statistical Overview section of the monthly CBA Bulletin of the Central Bank of Armenia includes data on monetary, external, fiscal and real sectors, and data on RA payment and settlement system and financial system indicators. The data source of real sector (excluding core inflation) and external trade in goods is the Statistical Committee of the Republic of Armenia (http://www.armstat.am). The data source on fiscal, external sectors, monetary and financial...

Status Report on Implementation of the Monetary Policy Program (Q1, 2023 - Q4, 2023) 2024-02-20 14:14

(2023/4) In the one-year period between 1st quarter of 2023 and 1st quarter of 2024, the inflationary environment in the Republic of Armenia has softened substantially. The 12-month inflation fell sharply in the first half of the year, forming around the level of zero since the second half. Such inflationary developments were attributable mainly to considerably weakened inflationary pressures transmitting from the external sector and even minor deflationary effects late in the year, as well as...

On the Registration of Changes in the Composition of Managers of “Apricot Capital” Closed Joint-Stock Company (Investment Company) 2024-02-02 15:01

THE CENTRAL BANK OF THE REPUBLIC OF ARMENIA GOVERNOR DECISION 12 February 2025 No. 1/43 A On the Registration of Changes in the Composition of Managers of “Apricot Capital” Closed Joint-Stock Company (Investment Company) In view of Clause “e¹” of Part 4 of Article 18 of the Law of the Republic of Armenia “On the Central Bank of the Republic of Armenia”, Part 2 of Article 221 of the Law of the Republic of...

Refinancing Rate Set at 8.75% 2024-01-30 17:13

At the January 30, 2024 meeting, the Board of the Central Bank of Armenia decided to decrease the refinancing rate by 0.5 percentage points, setting it at...

Refinancing rate has been reduced by 0.5 pp 2024-01-30 17:10

The Board of the Central Bank of Armenia decided to reduce the refinancing rate by 0.5 pp, setting it at...

Statistical overview (January. 2024) 2024-01-30 15:55

Statement of financial position as at 31 December 2023 2023-12-31 12:13

Statement of financial position as at 31 December...

Inflation report 2023/4 (Monetary Policy Program Q4, 2023, Status report on implementation of the Monetary Policy Program, Q3, 2023) 2023-12-26 18:15

E X E C U T I V E S U M M A R Y In the fourth quarter of 2023 the economic activity in the world and main trade partner countries to Armenia continues to slow down. The inflationary environment in the global economy is further easing asmonetary policies remain contractionary. And yet, the 12-month inflationrates in main trade partner countries are persisting above their target, and the central banks of these countries will, subsequently,keep monetary conditions relatively contractionary in the...

INFORMATION On the Structure of International Reserves of the Republic of Armenia 2023 year, III quarter 2023-11-28 16:16

INFORMATION On the Structure of International Reserves of the Republic of Armenia 2023 year, III...

Status Report on Implementation of the Monetary Policy Program (Q4, 2022 - Q3, 2023) 2023-11-28 15:46

(2023/3) The inflationary environment in the Republic of Armenia has eased significantly in the time period from the fourth quarter of 2022 to the third quarter of 2023. This was primarily facilitated by the weakening of external inflationary effects, as well as the monetary policy implemented by the Central Bank of Armenia. In particular, there was a significant decrease in food and energy prices in international commodity markets from the end of 2022, mainly due to the contractionary...

Statement of financial position as at 30 September 2023 2023-09-30 12:22

Statement of financial position as at 30 September...

Inflation report 2023/3 (Monetary Policy Program Q3, 2023, Status report on implementation of the Monetary Policy Program, Q2, 2023) 2023-09-26 15:17

E X E C U T I V E S U M M A R Y In the third quarter of 2023 the economic activity in the world and the main partner countries to Armenia remains sluggish, and the risks of weaker economic activity have substantially increased. With such developments in the global economy as well as the contractionary monetary policy implementation in place, the overall inflation environment in the world continued to soften significantly. Nonetheless, influenced by inflationary pressures from the labor market...

INFORMATION On the Structure of International Reserves of the Republic of Armenia 2023 year, II quarter 2023-08-22 12:30

INFORMATION On the Structure of International Reserves of the Republic of Armenia 2023 year, II...

Status Report on Implementation of the Monetary Policy Program (Q3, 2022 - Q2, 2023) 2023-08-22 11:26

(2023/2) In the period between 3rd quarter of 2022 and 2nd quarter of 2023, the inflation environment in the Republic of Armenia has eased substantially. Thus, in the second half of 2022, despite following a certain decreasing path, the overall inflation further remained elevated, primarily driven by strong aggregate demand and inflation expectations created on the account of a large-scale influx of international visitors and financial resources to Armenia in the wake of the Russia-Ukraine...