Armenian finance minister says food price rise is natural
06.04.2017,
15:57
Armenian finance minister Vardan Aramyan described the latest rise in food prices as ‘natural,’ saying the ongoing deflation is putting brakes on the country’s economic development because ‘for a country like Armenia, inflation is normal when it is within 4%.’
YEREVAN, April 6. /ARKA/. Armenian finance minister Vardan Aramyan described the latest rise in food prices as ‘natural,’ saying the ongoing deflation is putting brakes on the country’s economic development because ‘for a country like Armenia, inflation is normal when it is within 4%.’
He explained that deflation is hindering economic development, restraining the entrepreneurs' desire for new investments.
"Inflation should return to its natural medium term level of the projected 4%, especially that inflationary changes are not artificial. It was influenced by several factors – including both external negative risks and the domestic demand.," Aramyan said.
The minister urged the Central Bank to step up action for bringing inflation back to the projected band to offset the aftereffects of low inflationary field.
According to statistics, Armenia closed 2016 with deflation of 1.4%. Consumer prices in Armenia in January-March 2017 compared to January-March 2016 decreased by 0.3%. --0--
He explained that deflation is hindering economic development, restraining the entrepreneurs' desire for new investments.
"Inflation should return to its natural medium term level of the projected 4%, especially that inflationary changes are not artificial. It was influenced by several factors – including both external negative risks and the domestic demand.," Aramyan said.
The minister urged the Central Bank to step up action for bringing inflation back to the projected band to offset the aftereffects of low inflationary field.
According to statistics, Armenia closed 2016 with deflation of 1.4%. Consumer prices in Armenia in January-March 2017 compared to January-March 2016 decreased by 0.3%. --0--
