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Armenia central bank cuts key refinancing rate to 6.25% from 6.5%

Armenia central bank cuts key refinancing rate to 6.25% from 6.5%

PanARMENIAN.Net - The central bank said on Tuesday, December 27 it had cut its refinancing rate to 6.25 percent from 6.5 percent.

Annual deflation in Armenia was at 0.6 percent in November, compared with 0.9 percent deflation in October, according to central bank data.

On a monthly basis, the inflation rate stood at 1 percent in November, up from 0.5 percent in October.

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“The investments will be spent to build a canning factory and slaughterhouses, expand greenhouse farms,” Ignati Arakelyan said.
The funding will go to a subsidiary of ContourGlobal, an international power-generation company that acquired the Vorotan Cascade in 2015.
"We are yet unable to disclose the names of companies we are conducting negotiations with," Satenik Hovhannisyan said.
1,259,657 tourists have arrived in Armenia in January-December 2016, the National Statistical Service said, up by 5,7% on the year before.
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