EDB expects acceleration of Armenia’s inflation by the end of the year, but below projected target

|

USD

391.8

EUR

423.89

RUB

4.6403

GEL

141.14

Economy

06.11.2023, 10:36

The Eurasian Development Bank (EDB) expects Armenia’s inflation to accelerate by the end of the year, however, it will remain below the projected target of 4±1.5%, the bank said in its weekly macro review.

EDB expects acceleration of Armenia’s inflation by the end of the year, but below projected target

YEREVAN, November 6. /ARKA/. The Eurasian Development Bank (EDB) expects Armenia’s inflation to accelerate by the end of the year, however, it will remain below the projected target of 4±1.5%, the bank said in its weekly macro review.

The review reminds that inflation in Armenia amounted to 0.1% y/y in October, the same as a month earlier.

"Food prices continued to decline in October, while the growth rate of prices for services slowed down. The key factors limiting inflation were the reduction of external price pressure and implementation of tight monetary policy," the review says.

According to Armenia’s National Statistical Committee, the 12-month consumer inflation in October 2023 was 0.1% as opposed to October2022, while compared to September 2023 it was 0.3%.

The government’s projection of inflation for 2023 is 4% (±1.5%). The Central Bank’s latest forecast is around 0%. -0-

Armenia's foreign trade turnover in January-February decreased by 52%, to $2.8 billion.

According to preliminary statistics, the volume of foreign trade turnover in Armenia in January-February 2025 amounted to $2,785.8 million, which is 52% lower than the figure for the same period in 2024, the National Statistical Committee of Armenia reports.

25.03.2025 16:31

Armenia's foreign trade turnover in January-February slashed by 52% to $2.8 bln

Armenia's foreign trade in the first two months of 2025 amounted to $2,785.8 million, which is 52% lower than in January-February 2024, the National Statistical Committee reported.

25.03.2025 16:19

Electricity generation in Armenia increased by 6.9% in the first two months of 2025

According to operational statistics, the volume of electricity production in January-February 2025 increased by 6.9% compared to the same period in 2024, the National Statistical Committee of Armenia reports.

25.03.2025 15:00

Consumer prices in Armenia increased by 2.1% in January-February

According to preliminary data, consumer prices in Armenia increased by 2.1% in January-February 2025 compared to the same period in 2024, according to the National Statistical Committee (NSC) of Armenia.

25.03.2025 14:50

Deputy Minister of Economy reveals reason behind decline in trade with European Union

Armenian Deputy Economy Minister Narek Hovakimyan revealed the main reason behind the decline in the trade turnover with the EU in 2024.

24.03.2025 17:48

Armenia's 2025 budget introduces mechanism for carrying over unrealized capital expenditures to next year - Finance Ministry

For the first time, a mechanism for carrying over unrealized commitments on contractual capital expenditures to the next budget year has been introduced in Armenia's 2025 state budget, Finance Minister Vahe Hovhannisyan said.

24.03.2025 16:35

EDB predicts completion of refinancing rate reduction cycle in Armenia

The Eurasian Development Bank (EDB) expects that the cycle of reducing the refinancing rate in Armenia has concluded, following the stabilization of inflation within the target range set by the Central Bank of Armenia (3±1%).

24.03.2025 10:48

Armenia's withdrawal from EEU at the stage of negotiations on joining the EU will cost 30-40% of its GDP – Shoigu

Armenia will lose many privileges if it joins the European Union, as it will have to withdraw from the Eurasian Economic Union (EEU), Secretary of the Russian Security Council Sergei Shoigu told reporters.

20.03.2025 19:54