YEREVAN, March 11. /ARKA/. President of Armenia Serzh Sargsyan expects reduction of inflation two times from the government and Central Bank.

By the results of 2010 Armenia registered inflation by 9.4%. According to the forecast of CB Armenia, high level of inflation in the country will remain unchanged in the first quarter of 2011 and from the second quarter inflation indicator will abruptly reduce and reach to the target margin
4-5.5%.

“Government and Central Bank should understand that by the results of the year we should have two times reduced inflation indicator than last year. This goal will always be in the center of my attention”, said Sargsyan in the meeting regarding priorities of implementation of economic policy in the country.
He said that possible short and long-term suppression of inflation “will be priority for us”.

In this regard Sargsyan mentioned coordinated work of the Government and Central Bank.

“I understand that budget deficit level will significantly reduce, economic activation and monetary-credit policy will bring to certain results”, said Sargsyan.

He said that there are opportunities and money for solving this problem in legal field.

“We should seriously work with importers and manufacturers. I think that its time to encourage the competition”, said Sargsyan.

According to statistical data, inflation was 12.4% in February 2011 versus February 2010. n comparision with January 2011 inflation of 1.9% was registered.

According to the budget inflation in Armenia is planned on the level of уровне 4% (±1.5%) by the end of 4% (±1.5%). --0—