Expert: accession of Armenia to customs union can lessen inflation risks

Expert: accession of Armenia to customs union can lessen inflation risks

YEREVAN, January 17. /ARKA/. The accession of Armenia to the Customs Union can lessen inflation risks in the country, Vilen Khachatryan, an economist, said Friday at a news conference. 

In early September, Armenian President Serzh Sargsyan and his Russian counterpart, Vladimir Putin, made a joint statement, according to which Armenia has decided to join the Customs Union and to take part in formation of the Eurasian Union in the future. The statement came as Armenia was poised to sign the Association Agreement with the European Union aimed at making European Union’s ties with Ukraine, Armenia, Moldova and Georgia closer.   

At the same time, the expert finds it still early to forecast something. “At this stage, we watch further developments,” he said. 

Khachatryan referred to Eurasian Development Bank’s Integration Studies Center, which said that the Customs Union will ensure an additional four-percent GDP growth to Armenia while the country is in the process of integration. 
He pointed out certain risks from the European Union. “Particular risks may come from the European Union, but they are not connected with the signing of the Association Agreement by Armenia…” he said. 
According to the National Statistical Service of Armenia, inflation in the country was recorded at 5.8% in 2013 against 2.6% in 2012. 

In the 2013 government budget, inflation was projected at 4% (±1.5), and in the 2014 budget, the government projected the same inflation rate. -0--- 

18:04 17.01.2014

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