WB considers 6,5% inflation rate in Armenia realistic by yearend July 7, 2011 - 16:20 AMT PanARMENIAN.Net - Due to the programs the Armenian government and the Central Bank of Armenia (CBA) have implemented lately, it will be possible to reduce inflation rate to the target index 6,5% as of the results of 2011, according to Jean-Michel Happi, the World Bank Country Manager for Armenia. “WB considers this rate rather realistic,” Happi told a joint press conference with Armenian Minister of Finance Vache Gabrielyan July 7. As regards economic growth in Armenia, it may reach 5% as of the results of 2011, in case if no serious external challenges are faced, according to the WB Country Manager. He also said that in 2010, 2,6% GDP was recorded in Armenia, and this is a ground to hope for the index growth next year. The Armenian national budget for 2011, envisages 4,6% GDP growth and inflation at 4% (±1,5%). 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 | Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. Azerbaijan extends Rune Vardanyan’s arrest by 5 months A court in Azerbaijan has extended the arrest of former Nagorno-Karabakh leader Ruben Vardanyan by five months. Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. |