CBA: 20-25% loan growth expected in Armenia in 2010June 23, 2010 - 13:28 AMT PanARMENIAN.Net - Head of Financial Stability Department of the Central Bank of Armenia, Vahe Vardanyan forecasted 20-25% growth in Armenian commercial banks portfolio in 2010. “Given the 6% growth registered within first 5 months of the current year as well as growth of GDP and volumes of transfers to Armenia, the figure is realistic enough,” he told a news conference. According to Vardanyan, the rise in prices for oil, copper and molybdenum allows for the expected increase of transfers and direct investments from Russia, as well as export volumes to positively influence the economy and revenue sharing in Armenia. “Still, we’ll need several years to reach 80% growth observed in 2007,” he said. He also informed that out of AMD 42 billion crediting growth in January-May 2010, AMD 16 billion was allocated to the field of trade, AMD 8,8 billion - to customer crediting, AMD 3 billion - to agriculture. The remaining sum was invested in production industry, with mortgage portfolio unchanged. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |