Ameriabank forecasts 7% inflation rate in Armenia by yearend

PanARMENIAN.Net - According to forecasts of Ameriabank cjsc Development Director Tigran Jrbashyan , inflation rate in Armenia will go higher than predicted by the World Bank, that is up to 7%.

The expert said that inflation in Armenia by the yearend will be expressed in a single-digit figure higher than 5%, which, however, will not approach to two-digit 10% rate.

The day before, World Bank Country Manager for Armenia Jean-Michel Happi told a press conference in Yerevan that the international structure considers realistic 6,5% inflation rate forecast by CBA by the yearend 2011.

As Jrbashyan reminded, the rise of inflation rate in Armenia was conditioned by upsurge of prices in oil products and food at world markets.

“Inflation was imported to Armenia, however there has been a tendency for stability lately at world markets, which proves that there is no serious menace to inflation rise,” he said.

Touching upon economic growth, the Development Director noted that as of the results of 2011 it will be a bit higher than envisaged by the state budget, that is, 5-5,2%.

According to the Armenia’s budget for 2011, GDP growth is envisaged at the rate of 4,6%, while inflation at the rate of 4% (±1,5%).