IN 2010 MONEY STOCK IN ARMENIA TO GROW BY 9-11%, AND MONEY BASE TO GROW BY 3,5%

ArmInfo
09.02.2010

In 2010 the Central Bank of Armenia is going to conduct a restrained
monetary policy; in this connection, the forecasts of growth rates
of the monetary indices are more reserved, says the monetary-credit
policy program of the Central Bank of Armenia (CBA) for Q1 2010.

Within the frames of the CBA monetary-credit policy, in 2010 the growth
in the money stock will range from 9% to 11% as against 15.1% in 2009,
and the growth in money base will range from 3% to 5% as against 13.8%
in 2009. After the decline in Q1, which was conditioned by the seasonal
factor, 3.4% annual growth in the specified indices will be ensured
in the upcoming three quarters, and the average quarterly growth will
make up 2.3%.

According to the CBA publication, equal quarterly growth of AMD
aggregates in the money base is expected: the average quarterly growth
of cash in circulation will make up 2%, and that of AMD deposits
– 3.1%.

Under conditions of stabilization of the financial and economic
situation, as well as envisaged large-scale measures on dedollarization
of economy, the dollarization growth rates are expected to decelerate,
as a result, the annual growth of foreign exchange deposits will make
up 12.4%, and the average quarterly growth – almost 3%.