ArmInfo.This July, 9.3% inflation was recorded in Armenia's consumer market against 8.2% inflation last July because of a 12.9% rise in food prices (including  prices for cigarettes and alcohol) and an 8.2% rise in nonfood  prices, with a 5.7% rise in prices for services. Last July against  July 2020, a 13.1% rise in food prices and a 9.6% rise in nonfood  prices was recorded, with a 1.8% rise in prices for services. 

ArmInfo.On August 2, the Board of the Central Bank of Armenia decided to raise the refinancing rate by 0.25 percentage points to 9.5%. At a press conference on  these issues, Deputy Chairman of the Central Bank of the Republic of  Armenia Nerses Yeritsyan noted that in Q2, disruptions in global  value chains continued, and economic activity in Armenia's key  partner countries is slowing.

ArmInfo. At its meeting today, the Board of the Central Bank of Armenia decided  to raise the refinancing rate by 0.25 percentage point to 9.5%, the press service  of the Central Bank of Armenia told ArmInfo.  According to the  source, the message of the Central Bank of the Republic of Armenia  also notes that, in accordance with this, the The Lombard repo  facility rate was increased by 0.25 percentage points - from 10.75%  to 11%, and the Deposit facility rate - from 7.75% to 8%. 

ArmInfo.In the first half of 2022, the index of consumer prices for petrol rose by 23.9%, with the average index in the Eurasian Economic Union (EAEU) being 9.3%. The  highest rise was recorded in Kyrgyzstan, 46.7%, according to the data  by the Eurasian Economic Commission as of August 1, 2022. 

ArmInfo. In the medium term, inflation will go down to 4% in Armenia, Gevorg Papoyan, Chairman of the Standing Committee on Financial-Credit and Budgetary Affairs,  Parliament of Armenia, said in an interview with ArmInfo.

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ArmInfo.Armenia's economic growth depends on demand, is a fact, and it is dangerous. This opinion was expressed by former Minister of Finance of Armenia, international  consultant on public finance Vardan Aramyan, on his Facebook page,  commenting on the July report of the International Monetary Fund  (IMF) on the prospects for the development of the world economy.

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ArmInfo. In Armenia, economic activity in H1 2022 increased by 11.8% per annum (against 5% growth in H1 2021 and 6.5% growth in H1 2019), which is accompanied by high growth rates of imports and exports. In June of this year, by June  2021, economic activity increased by 18.5% (against 8% growth a year  earlier and 3.4% growth in 2019), while in June 2021 alone  accelerating growth to 17% from 6.1% in May (against a similar growth  acceleration in June 2021 from 2% to 12%, and a slowdown from 8.4% to  8.2% in June 2019). This is evidenced by the preliminary data of the  RA Statistical Committee. 

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ArmInfo. Due to the revaluing of the dram Armenian developers are losing up to 25% of their income. Artak Andreasyan, a member of the Council of the Association of  the  Armenian Developers, stated this during a press conference on July 18.

ArmInfo.One of the main sources of supply inflation in Armenia is people who arrived from Russia and other countries and created additional demand for goods  and services in the consumer market. Chairman of the Central Bank of  Armenia Martin Galstyan stated this at the meeting of the RA NA  Standing Committee on Financial-Credit and Budgetary Affairs.

ArmInfo. With a significantly stronger -than-expected Q2 indicator and continued observed activity in Q3, economic growth in Armenia this year will exceed EDB's baseline  forecast.

ArmInfo. In 2023, pensions will increase by 6,000 drams ($14.5 at the current exchange rate - ed. note). Minister of Labor and Social Affairs of Armenia Narek  Mkrtchyan announced this on July 12 in parliament in an interview  with journalists. At the same time, as the minister pointed out,  inflation is a global phenomenon and will continue not only until the  end of this year, but also in 2023.

ArmInfo. YOY inflation in June 2022 increased to 10.3% in the consumer market of Armenia. Food prices went up by 17.1%.

ArmInfo. Economic Suren Parsyan proposes that Armenia's authorities dismiss the officials in charge of the socio-economic and monetary policies. 

ArmInfo.The annual inflation reached 10.3% on Armenia's consumer market this June (against 6.5% last year) due a 16.1% rise in prices for food products (including  alcohol and cigarettes), and a 7.5% rise in prices for nonfoods, with  a 5.3% rise in prices for services against an 8.8% rise in prices for  food products, 9.5% rise in prices for nonfoods and  2.1% rise in  prices for services last June against June 2020. 

ArmInfo. The government-promised increase in the minimum wages, pensions and child care allowances will not only fail to resolve social problems, but also increase the  already high inflationary pressure, economists Karlen Khachatryan,  Vardan Bostanjyan and Tatul Manaseryan told ArmInfo. 

ArmInfo.At the end of 2022, Armenia will ensure the GDP growth rate of 7%, which is included in the state budget. Armenian Finance Minister Tigran Khachatryan made a  similar forecast on June 30 at a government meeting.

ArmInfo. The Central Bank of Armenia improved its forecast for GDP growth for 2022 from the previous 1.6% to the updated 4.9%, noting that in the absence of an  actual inflow of international visitors, Armenia's GDP growth  estimate for 2022 would be lower - 3.6%. This is noted in the  Monetary Policy Program (MPP) of the Central Bank for Q2 2022,  published at the end of June.