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RA Prime Minister: RA Government Intends To Actuate Administrative L

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  • RA Prime Minister: RA Government Intends To Actuate Administrative L

    RA PRIME MINISTER: RA GOVERNMENT INTENDS TO ACTUATE ADMINISTRATIVE LEVERS TO RESTRAIN INFLATION

    arminfo
    2008-05-29 15:16:00

    ArmInfo. RA government intends to actuate administrative levers to
    restrain inflation, as solution of this problem is a problem number
    one in the republic, RA Prime Minister Tigran Sarkisyan said at
    today's government session.

    As he said, the Gallup polls have shown that the society is most of
    all concerned over the price rise in Armenia today. The premier said
    that the government is not satisfied with the degree of elasticity
    of prices as their rise happens rapidly and sufficiently while the
    cut in prices - slowly.

    Unfortunately, the premier said, the government do not succeed to
    restrain inflation without administrative levers.

    He paid the governmental members' attention to the fact that
    a sharp fall in prices for bread, cereal products and rice has
    been fixed in the international markets. In particular, the grain
    prices during the last month dropped by 42% and for rice - by 22%,
    that created favourable conditions for the tendency of reduction
    for these foodstuffs in Armenia, which have a high specific weight
    in the consumer basket, T. Sarkisyan said. The premier charged the
    Economy and finance Ministry, as well as the Central Bank and the
    Commission for Protection of Economic Competition to submit proposals
    for control of inflation. "The problem of prices is in the center
    of the government's attention and, first of all, we shall carry out
    inspections in the organizations, where the rise in prices is not
    adequate to the world tendencies", the premier said.

    To recall, according to the data of the National Statistical Service
    of Armenia, inflation in Armenia in April, as compared with March,
    made up 1,1%, over Jan-Apr - 6%. The annual inflation indicator has
    been fixed by the budget 2008 at 4% level with deviations at the rate
    of 1,5%,,however, the experts forecast to 10%.
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