YEREVAN, June 29. /ARKA/. The week in Armenia's financial market was influenced by the debt agenda, statements from the Central Bank, currency dynamics, and decisions in the area of cashless payments.
- 1. Government Debt: Armenia aims to reduce the ratio of government debt to GDP to 45% approximately within five years.
- 2. Banking Sector: The Central Bank sees no grounds to speak of excessive profits of banks.
- 3. Macroeconomics: The Ministry of Finance projected medium-term GDP growth at 5.4–5.6%.
- 4. Interest Rates: The Central Bank allowed for a decrease in loan rates.
- 5. Currency Market: The dollar changed little, while the euro and ruble decreased.
- 6. Payments: An additional 10 billion drams will be allocated for the cashback program for pensioners.
- 7. Government Securities Market: International investors own 7-8% of the dram-denominated government debt.
The week reflected the adjustment of the financial market to the current macroeconomic parameters.
