Economist: Armenia believed to record 4-5% economic growth and 8% inflation in 2011
05.11.2011,
00:36
Armenia is believed to record four-to-five-percent economic growth and about eight-percent inflation in 2011, Bagrat Asatryan, former chairman of the Central Bank of Armenia, said at a news conference on Friday.
YEREVAN, November 4. /ARKA/. Armenia is believed to record four-to-five-percent economic growth and about eight-percent inflation in 2011, Bagrat Asatryan, former chairman of the Central Bank of Armenia, said at a news conference on Friday.
“I said so in the beginning of the year and it seems my projection is coming true,” he said.
Asatryan said this inflation forecast is being confirmed by current statistical reports, according to which 8.3% year-on-year inflation was recorded in Jan-Oct 2011.
National Statistical Service of Armenia says 5.7% year-on-year inflation was recorded in October 2011.
The banker voiced concern over price hikes saying that they strike hard at low-income people.
Consumer price index was 108.3% in Jan-Oct 2011, compared with the same period a year earlier. Index of prices for foods, heavy drinks and cigarettes was 112.3% and services 103.8%.
In the 2011 government budget, economic growth is projected at 4.6% and inflation at 4% (±1.5%).
According to International Monetary Fund’s forecast, Armenia will record 4.6% GDP growth and 8.8% inflation in 2011.
The World Bank has predicted 4.5% economic growth for Armenia. -0-
“I said so in the beginning of the year and it seems my projection is coming true,” he said.
Asatryan said this inflation forecast is being confirmed by current statistical reports, according to which 8.3% year-on-year inflation was recorded in Jan-Oct 2011.
National Statistical Service of Armenia says 5.7% year-on-year inflation was recorded in October 2011.
The banker voiced concern over price hikes saying that they strike hard at low-income people.
Consumer price index was 108.3% in Jan-Oct 2011, compared with the same period a year earlier. Index of prices for foods, heavy drinks and cigarettes was 112.3% and services 103.8%.
In the 2011 government budget, economic growth is projected at 4.6% and inflation at 4% (±1.5%).
According to International Monetary Fund’s forecast, Armenia will record 4.6% GDP growth and 8.8% inflation in 2011.
The World Bank has predicted 4.5% economic growth for Armenia. -0-
