WB Country Manager forecasts 4-5% inflation rate in Armenia in 2011January 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 | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |