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YEREVAN. – Even though the crediting of Armenia’s households increased in 2011, it still is lower than the pre-economic-crisis level in terms of growth rate, the Central Bank’s report informs.    

As a result, Armenia’s household debt burden continues to be much lower than other Eastern European and CIS countries. As compared with 2010, the household crediting-GDP ratio increased 2.5 percentage points in 2011, and comprised 14.5 percent.    

The obligations toward banks continue to be the dominant household debt burden in Armenia. But the credit growth rate of non-banking financial institutions was higher.

In terms of household crediting, activeness is noticed primarily in consumer loans.

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