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Publications

Statement of financial position as at 30 June 2023 2023-06-30 12:30

Statement of financial position as at 30 June...

Inflation report 2023/2 (Monetary Policy Program Q2, 2023, Status report on implementation of the Monetary Policy Program, Q1, 2023) 2023-06-27 11:01

E X E C U T I V E S U M M A R Y In the second quarter of 2023, the economic growth rates in the main partner countries to Armenia are still sluggish, which is accompanied by continuous easing of the inflation environment. Nevertheless, in all partner countries, as inflationary pressures derived from labor markets linger, the prices of goods and services that stand out with “sticky” prices still remain high. The central banks of those countries will therefore carry on tightening...

Status Report on Implementation of the Monetary Policy Program (Q2, 2022 - Q1, 2023) 2023-05-30 17:31

(2023/1) Early in the period between the 2nd quarter of 2022 and the 1st quarter of 2023 the inflation environment in the Republic of Armenia has expanded due to the influence of escalation of the Russian-Ukrainian conflict since the end of February, various sanctions imposed on Russia and many uncertainties derived from them. High inflation environment persisted up until the end of 2022, which was also driven by strong aggregate demand created on account of a large-scale influx of...

INFORMATION On the Structure of International Reserves of the Republic of Armenia 2023 year, I quarter 2023-05-30 11:54

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

Collector coins of the Republic of Armenia - 2022 2023-05-11 14:41

Dear reader We are pleased to present the annual journal “Collector Coins of the Republic of Armenia–2022”. In line with the annual program on issuance of collector coins in 2022, the Central Bank of Armenia issued collector coins dedicated to a number of remarkable events in history and culture, once again highlighting that such events deserve to be further appreciated and popularized among not only Armenians, but the international and numismatic community as well. On...

List established under UNSC resolutions was amended 2023-04-28 16:08

On 26 April 2023, the Committee established pursuant to the UN Security Council resolutions 1267/1989/2253 approved amendments to the list of individuals and entities associated with ISIL (Da’esh) and...

Financial Stability Report (2022 annual report) 2023-04-18 17:16

More detailed information on Armenia’s macroeconomic environment is available in the Inflation Report, Monetary Policy Program, Status Report on Implementation of the Monetary Policy Program periodical publications. Previous publications of the Financial Stability Report and Inflation Reports are available on the official website of the Central Bank of Armenia (www.cba.am).  EXECUTIVE SUMMARY   In an environment of increased uncer­tainties caused by the geopolitical...

Annual report 2022 2023-04-18 16:31

Governor's message Dear reader, We are pleased to share our Annu­al Report which highlights the challenges, approaches to overcoming them, and the achievements we had in 2022. The year 2022 was stormy and full of challenges, ones for the regional economy, af­fecting Armenia’s economy. Nevertheless, the results achieved show that the year was very positive for the development of our economy. Inflation in global commodity markets and sharp increases in inflation in...

Central banking in the digital economy 2023-04-08 21:29

​DOING DIGITAL FORUMAPRIL 5, 2023,DVIN MUSIC HALL, YEREVANMARTIN GALSTYAN, GOVERNOR CENTRAL BANK OF ARMENIA Central banking in the digital economy/society.​   Ladies and Gentlemen,I welcome you to the Doing Digital forum, and look forward to inspiring and thought-provoking conversations.In 2023, we celebrate the 30th anniversary of the Armenian Dram.It is, therefore, a great occasion to take stock of the past, and talk about the future.The history of the Armenian Dram and the...

Inflation and Structural Reforms in Different Societies (Game Theory Approach) 2023-04-05 18:11

WP 2023/05 Central Bank of Armenia Working Paper 2023/02 Inflation and Structural Reforms in Different Societies (Game Theory Approach) Ani Asoyan Vahagn Grigoryan Haykaz Igityan March 2023 Abstract The combination of structural reforms and inflation differs across countries. There are many evidences which claim about a trade-off between reforms and inflation. While reforms have their effects in the long run and are costly for government, the latter can get...

Statement of financial position as at 31 March 2023 2023-03-31 16:06

Statement of financial position as at 31 March...

INFORMATION On the Structure of International Reserves of the Republic of Armenia 2022 year, 2023-03-31 11:17

INFORMATION On the Structure of International Reserves of the Republic of Armenia 2022...

List established under UNSC resolutions was amended 2023-03-29 13:12

On 15 March 2023, the Committee established pursuant to the UN Security Council resolutions 1267/1989/2253 approved amendments to the list of individuals and entities associated with ISIL (Da’esh) and...

List established under UNSC resolution was changed 2023-03-29 12:38

On 27 March 2023, the Committee established pursuant to the UN Security Council resolution 1518 approved changes to the list of individuals and entities associated with...

Inflation report 2023/1 (Monetary Policy Program Q1, 2023, Status report on implementation of the Monetary Policy Program, Q4, 2022) 2023-03-27 16:36

Executive summary In the first quarter of 2023, the economic activity remains sluggish in the world economy and, particularly, the main partner countries to Armenia. In these countries, the 12-month inflation is gradually slowing down, largely owing to the continued decrease in the food and energy prices. However, the impact of high demand and inflation expectations on the inflation still prevailing; specifically, the growth of service prices in a number of advanced economies continues to stay...

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