EBRD: Armenian economic activity to drop during presidential polls

EBRD: Armenian economic activity to drop during presidential polls

PanARMENIAN.Net - Despite the possible postponement of the Armenian presidential elections due to the attack on candidate Paruyr Hayrikyan, the country’s commercial banks are ready to continue the implementation of current programs.

President of the Union of Banks of Armenia Ashot Osipyan hailed the fact that the commercial banks’ activity doesn’t depend on political developments.

“During the presidential elections, many companies pursue “wait and see” policy until the new government is formed,” head of European Bank for Reconstruction and Development (EBRD) resident office Valeriu Razlog commented to a PanARMENIAN.Net reporter.

Mr Razlog forecast economic activity growth only following the polls.

EBRD predicts about 4% GDP growth, with Armenia's 2013 state budget envisaging annual inflation index at 4 ± 1,5%.

Mr Razlog further deemed reconsideration of forecasts possible, voicing confidence for the Armenian government to continue the cautious policy, with the inflation fluctuations to remain under the control of the Central Bank of Armenia (CBA).

 Top stories
Ameria’s management staff, partners and public agencies, as well as local and int’l organizations are participating in the Oct 14-15 master classes.
In 2014, Ameriabank expanded its range of retail services with new offers, also providing more flexible and transparent terms of service.
Since 2010 the EBRD, EIB and EU have contributed a total of €30 million for the improvements carried out in two phases.
NCFA said its participation in this major exhibition aims to promote Armenia’s tourism opportunities at the European markets.
Partner news