Armenian prime minister predicts low inflation rate for 2009
06.08.2009,
18:02
Armenian prime minister Tigran Sargsyan predicted Wednesday a ‘rather low inflation rate’ for 2009.
YEREVAN, August 6, /ARKA/. Armenian prime minister Tigran Sargsyan predicted Wednesday a ‘rather low inflation rate’ for 2009.
‘Naturally, as long as the economy is not out of the recession yet the government’s priorities will be to ensure economic growth and financial stability and only then to focus on curbing inflation, ‘ the prime minister said during a working visit to Vayots Dzor province.
The head of the government praised the Central Bank for lowering the benchmark interest rate, which he said is in tune with the government’s plan of actions to mitigate the fallout from the crisis. He stressed that the Armenian economy is free now from inflation pressures.
‘The inflation rate fell three times against the past year. The inflation rate in the first seven months of 2088 against the same time span of 2007 rose to 10.5%, but it fell to 3.5% for the first seven months of 2009,’ he said.
The prime minister said having in view that 1.5% of the inflation is accounted for by price hikes of natural gas, petrol, power and public utilities, the conclusion is that the inflation environment for this year is favorable. -0-
‘Naturally, as long as the economy is not out of the recession yet the government’s priorities will be to ensure economic growth and financial stability and only then to focus on curbing inflation, ‘ the prime minister said during a working visit to Vayots Dzor province.
The head of the government praised the Central Bank for lowering the benchmark interest rate, which he said is in tune with the government’s plan of actions to mitigate the fallout from the crisis. He stressed that the Armenian economy is free now from inflation pressures.
‘The inflation rate fell three times against the past year. The inflation rate in the first seven months of 2088 against the same time span of 2007 rose to 10.5%, but it fell to 3.5% for the first seven months of 2009,’ he said.
The prime minister said having in view that 1.5% of the inflation is accounted for by price hikes of natural gas, petrol, power and public utilities, the conclusion is that the inflation environment for this year is favorable. -0-
