WB considers 6,5% inflation rate in Armenia realistic by yearend

WB considers 6,5% inflation rate in Armenia realistic by yearend

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%).

5  07.07.11 - Press conference of RA Finance Minister Vache Gabrielyan and country manager of World Bank Armenia office Jean-Michel Happi
 Top stories
Vahan Kerobyan said Armenia will most probably introduce a ban on the sale of Turkish products as well.
According to Vahan Kerobyan, a sharp decline in the travel industry was recorded last year, but now the situation has changed
Mher Grigoryan added that the government will ensure that the borrowed funds are spent efficiently.
Wizz Air Abu Dhabi will be regularly flying from the Armenian capital of Yerevan to Abu Dhabi, UAE.
Partner news