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Vache Gabrielyan Says High Inflation Worrying

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  • Vache Gabrielyan Says High Inflation Worrying

    VACHE GABRIELYAN SAYS HIGH INFLATION WORRYING

    ARMENPRESS
    FEBRUARY 28, 2011
    YEREVAN

    YEREVAN, FEBRUARY 28, ARMENPRESS: The high index of inflation in the
    Republic is worrying: in January, we had more than 2% inflation, and
    the inflation will be approximately 1% February, RA Finance Minister
    Vache Gabrielyan said today at a meeting with journalists.

    "Monetary-credit policy is involved in the list of measures to be
    implemented in parallel with tax-budget policy. At the same time,
    we do our best to lead a policy, which requires less expense. The
    Central Bank undertakes steps for alleviating the inflation. In
    particular, interests have been increased; however we face issues
    in two directions, as inflation, being a global phenomenon, comes
    from supply, and actually, both the monetary-credit and tax-budget
    policies alleviate the inflation through regulation of demand,"
    the minister said.

    Vache Gabrielyan reminded about a recent G-20 analysis, according
    to which the increase in basic food prices was connected with both
    the drought of Russia and the reduction of the intended volume of
    production in other countries.

    As to the RA government's projects for controlling of the inflation,
    the minister emphasized the provision of barley and Indian corn to
    villagers for increasing sowing areas.




    From: A. Papazian
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