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ECONOMIST: ARMENIA BELIEVED TO RECORD 4-5% ECONOMIC GROWTH AND 8% INFLATION IN 2011
/ARKA/
NOVEMBER 4, 2011
YEREVAN
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.
/ARKA/
NOVEMBER 4, 2011
YEREVAN
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.