YEREVAN, May 24. /ARKA/. Tigran Jrbashyan, development director of Ameriabank, said Tuesday that a single-digit inflation rate would be recorded in Armenia in the first half of this year.

“Results of the tough monetary policy are already visible, since inflation was quite moderate in April,” he said. “As I said four months ago, our double-digit inflation is transforming into one-digit. Now inflation is close to 9%. I think the first half of this year will end in single-digit inflation.”

Armenia’s year-on-year inflation slipped from the double-digit rate to 8.9% in April 2011.

In the 2011 government budget, inflation is projected at 4±1.5%.

Jrbashyan said the benchmark refinancing rate would likely remain unchanged until late summer, since complicated spring period has already passed, and summer inflation pressures are usually moderate.

On May 10, the board of the Central Bank of Armenia decided to leave 8.5% benchmark refinancing rate unchanged. -0-