Armenian central bank leaves refinancing rate unchanged, at 4.5%

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YEREVAN, July 29. /ARKA/. The Board of the Central Bank of Armenia decided Tuesday to leave the refinancing rate unchanged, at 4.5%, the press service of the regulator reported.

The Lombard repo facility rate is 6.0%, and the Deposit facility rate is 3.0%.

Before that, the central bank changed the refinancing rate on June 16, 2020, lowering it by 0.5 percentage points to 4.5%.

On April 29, the National Assembly of Armenia approved the coronavirus-prompted revision of budgetary indicators. Taking into account the unfavorable impact of the situation withCOVID-19, the budget forecast for GDP was lowered to a decline of 2% from the 4.9% growth projected earlier, and the deficit was increased to 340 billion drams, or 5% of GDP (previously 2.3%). –0–

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