Wednesday, April 13 2011 16:42

Armenian Finance Ministry forecasts 6%-7% inflation for late 2011 in Armenia


ArmInfo. Armenian Finance Ministry 6%-7% inflation for late 2011 in Armenia, Minister Vache Gabrielyan told ArmInfo.

He said that inflation will be gradually slackening starting the second half of 2011. Last year the major reason of high inflation was the high prices of agricultural products, he said He explained that last summer inflation in Armenia was high whereas over the last 15 years fruits and vegetable prices were falling in the summer seasons and no inflation was registered. Now, given the benchmark effects, inflation should slacken till the end of the year, he said.

Quite recently the IMF published its annual World Economic Outlook, that forecasts 9.3% inflation in Armenia for late 2011 and 4.6% GDP. The state budget of Armenia envisages 4% (+1.5%) inflation for 2011. In 2010 inflation in the country totaled 9.4% and for the Q1 2011 - 5,2%.
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