Expert: real inflation rate will be higher in 2011 in Armenia compared to 2010

PanARMENIAN.Net - Expert in management Harutyun Mesropyan said that the Armenian authorities do not manage to tackle inflation, the real rate of which will be higher in 2011 compared to 2010.

Already in February 2010, the Armenian authorities and representatives of international structures stated that the crisis is overcome, while inflation will be within the envisaged under the 2010 state budget rate of 4±1.5% by the end of 2010.

“But the inflation rate totaled 9.4% by the end of 2010,” Mesropyan said.

Mesropyan also criticized the governmental policy on making forecasts for six months, as it fails even in making those for a week.

According to forecasts of the Central Bank of Armenia (CBA), 10% inflation will be recorded in Armenia in the first half of 2011, after which the inflation rate will start decreasing.

However, Mesropyan believes that only CBA will not manage to suppress the growth in prices through its injections to the country’s economy and exchange currency. He added that other state bodies should also join this process.

Referring to overcoming the crisis consequences, Mesropyan said that prices for precious metals continue growing, specifically, the price for 1 ounce of gold increased from USD 250 to USD 1,400 over the past two years, what proves that the crisis has not gone.