CREDIT VOLUME TO GO UP BY 60 PERCENT

Panorama.am
14:56 06/09/2007

Armenian Central Bank (CB) forecasts say the volume of all credits will
go up in 2007 reaching up to 60 percent, which in absolute numbers
is 380-390 billion drams, Davit Sargsyan, head of CB finance system
policy and analysis department, told reporters today.

On December 31, 2006 the credit volume made up only 240 billion
Armenian drams.

The tendency to rise in credit volume has been sustained for about
three to four years. Mortgage credit is leading with its growth
rates. Mortgage credits doubled in volume last year. Davit Sargsyan
did not exclude "over 100 percent growth by the end of the year."