Inflation risks lessened in Armenia for next five years by public confidence in government

17.09.2019 17:16
Inflation risks lessened in Armenia for next five years by public confidence in government

YEREVAN, September 17. /ARKA/. Public confidence in the government lessened a great deal inflation risks in Armenia for the next five years, Armenian Prime Minister Nikol Pashinyan said Monday at a news conference in Vanadzor.

"Today, people's confidence in the government so high that Armenia will face no risks for the next five years, and this circumstance, in turn, impacts inflation and keeps it at a low level," he said.

In his words, the government has managed to stop the increase of inflation yet in September 2018 despite of skeptical outlooks, which have triggered some panic. "We have managed to increase imports, and this averted all inflation risks immediately," Pashinyan said.

It is possible to retain the law inflation, he said, also thanks to the fact that the new authorities has rid the country of monopolies and created a market economic environment.

"The elimination of monopolies brought to the necessity to change former rates and balance, and the tax reforms aimed at creation of more comfort conditions for economic entities have contributed to that as well," the premier said at the news conference.

According to the National Statistical Committee of Armenia, consumers prices in the country rose 0.6% in August 2019, compared with August 2018 (12-month inflation).
In August, compared to July, a 0.4 percent deflation was recorded in Armenia.

The year-on-year inflation for a period between January and August 2019 stood at 1.8%. In the government budget for 2019, economic growth is projected at 4.9% and inflation at 2.7%. ($1 - AMD 476.16). -0----


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