Armenia’s membership in Customs Union will not lead to major change in inflationary environment –CB Board member

25.02.2014 16:54
Armenia’s membership in Customs Union will not lead to major change in inflationary environment –CB Board member

YEREVAN, February 25. / ARKA /. Armenia's membership in the Russia-led Customs Union will not lead to a major change in the country’s inflationary environment, according to Arthur Stepanyan, a member of the Central Bank Board.

Earlier economy minister Vahram Avanesyan said the studies showed that the maximum inflationary pressure from Armenia’s membership in the Customs Union will not exceed 1.5%.

He said to ARKA that in order to prevent the growth of customs duties Armenia is currently negotiation with the Russia-led trade bloc to allow it to levy its current lower import duties on around 1000 goods.

He said the Central Bank and the government have a projected inflation rate of 4% and the challenge will be keeping it at this level. -0-


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