Impact from introduction of Eurasian Economic Union customs code on inflation in Armenia to be below 1%
15.11.2017,
10:38
Inflation pressure from introduction of the Eurasian Economic Union’s customs code in Armenia will be no higher than 1%, Arthur Javadyan, chairman of the Central Bank of Armenia said Tuesday in the Armenian National Assembly.
YEREVAN, November 15. /ARKA/. Inflation pressure from introduction of the Eurasian Economic Union’s customs code in Armenia will be no higher than 1%, Arthur Javadyan, chairman of the Central Bank of Armenia said Tuesday in the Armenian National Assembly.
The customs code comes into force on January 1, 2018.
“Our calculations show that, in total, the Eurasian Economic Union customs code’s impact on inflation will hardly reach 1%,” Javadyan said. “Impacts from customs duties will be around 0.41%, and the rest will be around 0.5% of the remaining factors derived from the introduction of the new code.”
Earlier, the central bank chairman said that inflation in Armenia will be no higher than 2% in 2017.
In the government budget for 2017, inflation is projected at 4% (±1.5%) and GDP growth at 3.2%.
The same indicators are projected also in the 2018 government budget. --0---
The customs code comes into force on January 1, 2018.
“Our calculations show that, in total, the Eurasian Economic Union customs code’s impact on inflation will hardly reach 1%,” Javadyan said. “Impacts from customs duties will be around 0.41%, and the rest will be around 0.5% of the remaining factors derived from the introduction of the new code.”
Earlier, the central bank chairman said that inflation in Armenia will be no higher than 2% in 2017.
In the government budget for 2017, inflation is projected at 4% (±1.5%) and GDP growth at 3.2%.
The same indicators are projected also in the 2018 government budget. --0---
