In March 2024, the World Bank published its monthly report on the economic development of Armenia, reporting a decrease in prices by 1.2%. The main reason for this is a reduction in food prices by 5.6%.
The Central Bank of Armenia continues to gradually ease monetary and credit conditions, lowering the refinancing rate by 25 basis points to 8.5%.
It is important to note that in March 2024, there was a significant strengthening of the Armenian dram against the US dollar by 2.7%. This occurred after a period of stability in the exchange rate recorded earlier in the year.
However, the country's international reserves continue to decline. As noted in the report, from March 2023 to the present, this indicator has decreased from 3.6 billion US dollars to 3.3 billion US dollars.
