The Board of the Central Bank of Armenia decided to raise the refinancing rate by 0.5 percentage point to 6.0% on Tuesday, May 4.

The Central Bank put Lombard repo facility rate at 7.5%, and Deposit facility rate at 4.5%.

The World Bank said earlier that Armenia's economy will bounce back and grow by 3.1% and 4.5% in 2021 and 2022, respectively.