Armenia Central Bank raises key refinancing rate to 5.5%

February 2, 2021 – 15:09 AMT

PanARMENIAN.Net’s Central Bank has raised its key refinancing rate to 5.5%, the bank said in a statement on Tuesday, February 2.

The Central Bank had increased the refinancing rate by 1 percentage point -from 4.25% to 5.25% – in mid-December.

The World Bank said earlier that Armenia’s economy will contract by 8% in 2020 and bounce back and grow by 3.1% and 4.5% in 2021 and 2022, respectively.

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