Tosunyan: Armenia’s inflation level lowest in CIS

YEREVAN, October 11. /ARKA/. Armenia has the lowest inflation level in the CIS. During the 4th international banking conference “Money transfers, retail banking services” President of the Association of Russian Banks Garegin Tosunyan said that contrastive analysis of Armenia’s position in the CIS territory testifies to this.

“Armenia (2.9%) is followed by Kyrgyzstan with 5.6% inflation and Belarus (7%). In Russia and the CIS states this index is at the level of 9%,” he said.

Tosunyan also pointed out by the GDP index Armenia among the CIS states ranks the second after Azerbaijan.

“13.4% GDP growth in Armenia is a rather serious index which should be retained for a long time,” he said and added that in Azerbaijan this index is at 34.5%, in Kazakhstan – 10.6%, in Russia – 6.7%, and in the CIS states the average – 7.5%.

e pointed out that by the index of investments in Armenia’s main capital also ranks the second (37.1%) after Tajikistan (55.1%).

“This index in Belarus reaches 31.1%, in Russia – 13.5% and in the CIS – 14%,” he said.

In this connection Tosunyan pointed out that the countries smaller and commensurable in the territory or number of population with Armenia, also including them Switzerland, Lichtenstein or Austria, occupied a position in the international field which equals them to the biggest countries by population and square.

0.2% deflation is recorded in Armenia in September 2007 as compared to December 2006. In September prices for Armenia’s consumer market increased by 0.7% as compared to August. At the same time, the index of consumer prices is at 102.7% this September as compared to September 2006.

In January-September 2007 the inflation made 3.8% as compared to the same period in 2006, the index for foodstuffs was 104.8%, and for non-foods it reduced by 1%, and the tariffs for services increased by 4.5%. –0--