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Inflation In 2010 To Be Around 7%: Armenian PM

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  • Inflation In 2010 To Be Around 7%: Armenian PM

    INFLATION IN 2010 TO BE AROUND 7%: ARMENIAN PM

    Tert.am
    14:36 ~U 01.04.10

    During a meeting today, the Armenian government discussed the
    macro-economic indicators of the first quarter of 2010. RA Prime
    Minister Tigran Sargsyan said that the study of those indicators
    makes it clear that the government's 2009 bail-out programs are
    bearing fruit.

    According to Sargsyan, the recorded indicators exceed the government's
    expectations by two-and-a-half times, which, in his words, is accounted
    for by the expanding monetary and fiscal policy pursued by the Central
    Bank and the Ministry of Finance.

    Sargsyan also mentioned that Armenia has entered a phase of high
    inflation, conditioned by the same expanding monetary and fiscal
    policy, since, on the one hand, economic growth is encouraged, while,
    on the other hand, inflation is encouraged.

    The task before the government and the Central Bank of Armenia is to
    curb the inflation. According to Sargsyan, the inflation in March,
    compared to December 2009, was 2.9%, while the average rate of
    inflation for the whole year was 8.8%.

    Sargsyan also said forecasts have shown that inflation in 2010 will
    be around 7%.
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