YEREVAN, April 29. /ARKA/. GDP growth in Armenia will exceed the budgeted indicator by the end of 2011, considers the Chairman of Standing Parliament Committee on Economic Issues Vardan Ayvazyan.

“Economy of the country is not in deep crisis so far. It is beginning to recover”, he said in the press conference on Friday.

It is particularly seen from the increase of volumes of industrial production by 5.9%.

According to the state budget of Armenia, GDP growth in 2011 is planned at the level of 4.6%. GDP volume of Armenia in 2010 increased by 2.6% compared with 2009 instead of planned level of 1.2% making 3509.6 billion drams. Indicator of economic activeness in March remained unchanged compared with 2010 and compared with the previous month it was 17.6%.

“There is an increase in inflation, which is mainly conditioned by the increase of prices in the world markets. I believe that that using the monetary instruments of keeping inflation by CBA will be effective”, he said.

Parliament member of opposition faction “Dashnaktsutyun” Artsvik Minasyan said that the policy of keeping inflation by CBA does not help the solution of the existing problems in the country.

“Experience shows that the mechanism of increasing refinancing rate is not effective, as this method provides only short-term effect”, said Minasyan.

There is no basis for optimism today. “We can’t speak about optimism today as economic indicators worsen and living standards continue to fall. Authorities accept their mistakes, but are not ready for radical reforms that are necessary”, he said.

“Monopolists should be required to declare the prices for goods a year before. It can be possible in case of creation of futures market in Armenia. It is a transparent mechanism used in many countries”, said Minasyan.

According to National Statistic Service of Armenia, inflation in Armenia in March 2011 was 11.5% compared with the last year. In March 2011 compared with February increase of consumers prices by 0.8% was recorded.

Inflation in 2011 in Armenia will be 6%. By the assessments of EBRD - 4% (±1.5%). -0-