The World Bank works with the Armenian Economy Ministry and National Statistical Service to forecast the country’s economic growth.

“We predict 4-5% economic growth in Armenia in 2011-2012,” Jean-Michel Happi, World Bank Country Manager for Armenia, told a press conference in Yerevan.

As for inflation rate, Happi said the trends in global prices cannot but affect inflation fluctuations in the country, due to openness of Armenia’s economy.

“Specifically, taking into consideration the actions taken by the government, single digit inflation (6-6.5%) will be recorded in Armenia by the end of 2011, if there are not considerable shocks in global prices for fuel and food, as well as if climatic conditions do not affect agriculture,” said Happi.