Inflation in Armenia needs no abrupt corrections - central bank

13.03.2020 10:29
Inflation in Armenia needs no abrupt corrections - central bank

YEREVAN, March 13. /ARKA/. Inflation in Armenia needs no abrupt corrections, Martin Galstyan, a member of the board of the Central Bank of Armenia, said Tuesday in an interview with the Public Television of Armenia.

"Inflation in Armenia is moderate, it is even lower than the central bank forecast, but there is no problem, since it is projected for in the medium term and we are purposefully moving towards a long-term recovery of inflation," Galstyan said.

According to him, there is an opportunity to restore the inflation rate now, but it is desirable to conduct these processes more slowly, which allows creating more favorable conditions also from the point of view of macroeconomic stability.

According to the National Statistical Committee of Armenia, a 0.5-percent 12-month deflation was recorded in February 2020, and a 0.7-percent inflation recorded in December 2019 was the lowest indicator among the CIS countries.

In the 2020 government budget, economic growth is projected at 4.9 percent and inflation at 4% (±1.5%). -0--

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