The specific weight of “bad assets” is 7.1% in Armenia. This is what Governor of the Central Bank of Armenia Martin Galstyan told reporters today.
Galstyan clarified that the share of such assets was 6.6% in the past quarter.
According to him, compared with the previous forecasts, positive trends are being noticed in Armenia’s economy. The head of the Central Bank explained that the 6% increase of the refinancing interest rate will entail increase of interest rates for loans by commercial banks.
“Bad assets” are the assets written out of the balances of banks.