Inflationary pressures in 2016 will be within government projected target band, Gagik Minasyan
11.01.2016,
15:10
Inflationary pressures in 2016 will be within the government projected target band, Gagik Minasyan, the chairman of an Armenian parliamentary committee on budget and finance issues from the governing Republican Party of Armenia, told a news conference today.
YEREVAN, January 11. /ARKA/. Inflationary pressures in 2016 will be within the government projected target band, Gagik Minasyan, the chairman of an Armenian parliamentary committee on budget and finance issues from the governing Republican Party of Armenia, told a news conference today.
According to him, the past year was closed with a ‘fairly mild inflation’ that allowed the Central Bank to cut its refinancing rate by one percentage point to 8.75%.
"I think that inflationary pressures this year will not go beyond the projected limit, while the reduction of the refinancing rate will in turn create more favorable conditions for the revitalization of the economy", said Minasyan.
According to the National Statistical Service, consumer prices in November 2015 grew by 1.2% year-on-year. Consumer prices in the first 11 months of 2015 rose by 4.1% from the first 11 months of the previous year.
According to forecasts of the Central Bank, inflation in the coming months will remain at a low level and then will slowly expand to stabilize around the target band of 4% (± 1, 5%). The government’s projection of GDP growth in 2016 is 2.2%. -0-
According to him, the past year was closed with a ‘fairly mild inflation’ that allowed the Central Bank to cut its refinancing rate by one percentage point to 8.75%.
"I think that inflationary pressures this year will not go beyond the projected limit, while the reduction of the refinancing rate will in turn create more favorable conditions for the revitalization of the economy", said Minasyan.
According to the National Statistical Service, consumer prices in November 2015 grew by 1.2% year-on-year. Consumer prices in the first 11 months of 2015 rose by 4.1% from the first 11 months of the previous year.
According to forecasts of the Central Bank, inflation in the coming months will remain at a low level and then will slowly expand to stabilize around the target band of 4% (± 1, 5%). The government’s projection of GDP growth in 2016 is 2.2%. -0-
