Saturday, April 4 2020 12:52
Karine Melikyan

According to ADB forecast, inflation in Armenia in 2020 will make  2.8%

According to ADB forecast, inflation in Armenia in 2020 will make  2.8%

ArmInfo.According to the forecast of the Asian Development Bank (ADB), inflation in Armenia in 2020 will be 2.8% (versus 1.4% in 2019), and in 2021 - 2.2%. This  forecast was published on April 3 in the ADB economic report, Asian  Development Outlook 2020.

"Monetary policy is expected to remain generally adaptive.  Acceleration of inflation in 2020 will take place with continued  growth in aggregate demand and expansionary fiscal policy, which  assumes only a slight effect on prices from higher import prices for  certain goods when moving to a single external tariff within the  EAEU. Slowing inflation will follow in 2021. The 12-month inflation  rate from December to December is expected to remain within the  Central Bank's target range of 2.5-5.5%, at least until the end of  2021, "the ADB report said.

In neighboring countries, ADB expects: in Georgia, inflation of 4.5%  in 2020 with a slowdown to 3% in 2021, and in Azerbaijan - 2.5% in  2020 with an acceleration of 3.5% in 2021.

According to the ADB forecast, inflation from the EAEU countries in  Kazakhstan is expected to reach 6% in 2020 with a slowdown to 5.7% in  2021, while inflation in Kyrgyzstan will slow down from 3.5% in 2020  to 3% in 2021.

Among the CIS countries, ADB expects the highest inflation rate in  2020 in Uzbekistan and Turkmenistan - 13% and slightly less in  Tajikistan - 9%. In 2021, inflation is forecasted to be 10% in  Uzbekistan, and 8% in Turkmenistan and Tajikistan.

According to the Statistical Committee of the Republic of Armenia,  inflation in the consumer market of Armenia in 2019 was lower - 0.7%  than in 2018 - 1.8%. The average monthly increase in consumer prices  in January-December 2019 amounted to 0.1%, repeating the trend a year  ago.  In annual terms (January-December 2019 to January-December  2018), consumer market also recorded inflation - 1.4% (against  inflation 2.5% a year ago).

It should be noted that according to the WB forecast, inflation in  Armenia is expected at 4% in 2020 and 2021. The Central Bank of the  Republic of Armenia forecasts inflation of 1.9% for 2020. And in the  RA budget for 2020, the inflation rate of 4% (+/- 1.5) is laid down. 

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