  WB Country Manager forecasts 4-5% inflation rate in Armenia in 2011 January 12, 2011 - 15:32 AMT PanARMENIAN.Net - Jean-Michel Happi, the World Bank Country Manager for Armenia, forecast a dramatic drop in medium price index, with 4-5% inflation rate. “9,4% inflation registered in 2010 was caused by food products’ price upsurge, as well as high tariffs for transport, grain crop and raw materials,” he told a news conference in Yerevan. The expert also cited poor climatic conditions, decrease in production volume and drought-induced wheat export from Russia behind the increase of prices in Armenia.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Czech-Armenian military cooperation discussed in Yerevan  A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia.U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel.Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide.Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |
