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Armenia Increases Central Bank Interest Rate — Orbitax Tax News & Alerts

On 14 December 2021, the Central Bank of Armenia increased the key refinancing interest rate from 7.25% to 7.75%. This follows an increase in the rate from 6.5% to 7.0% on 3 August 2021 and an increase to 7.25% on 14 September 2021. For taxpayers, the rate affects the amount of deductible interest on loans provided by entities other than banking and financial institutions, which is limited to the extent the interest rate exceeds twice the key rate of the Central Bank.