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Inflation in Armenia for February: 2.5% year-on-year, 0.1% monthly increase
In February 2025, compared to February 2024, inflation in Armenia amounted to 2.5%, and 0.1% for the month. YEREVAN, March 5. /ARKA/. In February 2025, compared to February 2024, inflation in Armenia amounted to 2.5%, and 0.1% for the month. This is according to the report from the National Statistical Committee (NSC) of Armenia. According to the NSC, in February 2025, compared to February 2024, prices for food products and non-alcoholic beverages increased by 4.5%, and by 0.5% for the month. Alcoholic beverages and tobacco products increased in price by 3.4% over the year, and by 0.5% compared to January of the current year. Prices for clothing and footwear ...
03/05/2025Armenia's cumulative GDP growth in 2018-2024 amounted to 43.5% - Pashinyan
... to 2018 and a 5.2% increase compared to 2023. The Prime Minister also noted that by the end of 2024, the average annual nominal salary in Armenia reached 287,172 drams, an increase of 66.3% compared to 2018 and 6.4% compared to 2023. Recalling that inflation at the end of 2024 was 1.5%, Pashinyan stated that the accumulated inflation from 2018 to 2024 was 25.3%. "Thus, the real growth of wages from 2018 to 2024 was about 40%," he explained. Figures and Economic Forecasts for Armenia The ...
02/28/2025EBRD improves Armenia's economic growth forecast for 2025, but points to risks
... year as a whole, down from 8.3% in 2023. This slowdown reflects lower capital inflows, a diminishing impact from highly skilled Russian migration, and slower growth in trade and ICT services," the EBRD report states. The report further notes that inflation remains well below the Central Bank of Armenia's revised target of 3% (±1%). "In January 2025, inflation stood at 1.7% year-on-year, and in 2024, it averaged 0.3%, significantly lower than the 2% recorded in 2023. To support economic activity,...
02/28/2025Armenia's GDP grew by 5.9% in 2024, amounting to about 10.1 trillion drams - official statistics
... transportation and warehousing (-6%), education (-5.2%), healthcare and social services (-2.5%). In other service sectors, the decline was 1.2%. Figures on the Armenian economy Economic growth in Armenia’s state budget for 2024 was projected at 7%, with inflation forecasted at 4% (±1.5%). According to preliminary data, the economic activity index for Armenia in January-December 2024 showed an 8% increase compared to the same period in 2023. In its monetary policy report for the fourth quarter of last ...
02/20/2025EFSD review: Armenia's economy slows down significantly, 2025-2027 forecast is 5%
... a reduction in the contribution of "conjunctural factors," such as re-export volumes and the influx of tourists from Russia. "Although the country's economy has emerged from deflation, price growth remains low: by the end of 2024, the inflation rate was 1.5%, which is significantly lower than the Central Bank's target range (4.0±1.5%). The deterioration in the balance of services led to an increase in the current account deficit. The dram exchange rate remains overvalued," the ...
02/13/2025Armenia recorded 12-month inflation of 1.7% in January 2024
In January 2024, compared to January 2023, inflation in Armenia amounted to 1.7%, and over the previous month, prices increased by 1.4%. YEREVAN, February 7. /ARKA/. In January 2024, compared to January 2023, inflation in Armenia amounted to 1.7%, and over the previous month, prices increased by 1.4%, according to the National Statistical Committee (NSC). The NSC said in January 2024, compared to January 2023, prices for food products and non-alcoholic beverages rose by 2.5%, while over the previous month, they increased by 2.7%. Alcohol and tobacco products increased in price by 3.7% over the year, and by 0.2% compared to December of the previous year. Prices for clothing ...
02/07/2025“We'll wait and see": Central Bank chairman on possible impact of Trump's customs wars on inflation in Armenia
... points to 6.75% is comprehensive and does not focus on a single factor, the regulator's head Martin Galstyan said at a press conference, responding to a question of ARKA news agency on the possible impact of customs wars, particularly by the US, on inflation in Armenia. YEREVAN, February 4. /ARKA/. Today’s decision of Armenia’s Central Bank to cut the refinancing rate by 0.25 percentage points to 6.75% is comprehensive and does not focus on a single factor, the regulator's head Martin Galstyan ...
02/04/2025Galstyan: Public transport fare increase in Yerevan may raise inflation by 0.1% maximum
The increase in public transport prices in Yerevan could raise inflation by 0.1%, and this is the maximum possible rise, said Martin Galstyan, the head of the Central Bank of Armenia. YEREVAN, February 4. /ARКА/. The increase in public transport prices in Yerevan could raise inflation by 0.1%, and this is the ...
02/04/2025Consumer prices in Armenia increased by 0.3% in 2024
... 1% rise. According to the NSC, prices for industrial goods in 2024 compared to 2023 increased by 3.6%. In December 2024 , prices for industrial goods increased by 5.7% year-on-year, and by 0.9% over the month. The Armenian state budget for 2024 set inflation at 4% (±1.5%). The 2025 budget set it at 3% (+1%). In November 2024, the 12-month inflation was 1.4%. -0-
01/31/2025Armenia's state budget deficit to rise to 5.5% of GDP in 2025 - Fitch
... revenue and 3.4 trillion drams in spending (of which 2.7 trillion drams are current expenditures and 734 billion drams are capital expenditures. The deficit is projected at 604 billion drams. Economic growth is planned at the level of 5.1%, the average inflation at 3.5%. The ratio of government debt to GDP is projected at 54.3%. ($1 - 398.36 drams)
01/29/2025EDB expects price growth to accelerate in Armenia
... previous month. "Food prices continued to rise: 2.0% year-on-year in December, up from 1.7% year-on-year the previous month. In December, the growth in service prices remained at 2.5% year-on-year (down from 3% year-on-year the previous month). Disinflation in the non-food segment slowed, registering 1.8% year-on-year, compared to 2.1% year-on-year a month earlier," the macro review states. The cycle of reducing the refinancing rate in Armenia has been ongoing since June 2023, with the Central Bank lowering this ...
01/20/2025WB improves Armenia's economic growth forecast for 2025
... 2026 have been improved by 0.1 percentage points. January Forecasts from the World Bank According to the World Bank report, global economic growth is expected to reach 2.7% in 2025-2026. As noted in the document, global growth is "stabilizing as inflation approaches target levels, and monetary easing is supporting activity in both advanced economies and emerging markets and developing economies." The report also highlights that "stronger trade and investment" are positively influencing ...
01/17/2025UN predicts Armenia's economic growth at 5.2% in 2025 and 4.7% in 2026
... countries and 4.6% for oil-importing countries (with the 2026 forecast being 2.1% and 4.5%, respectively). UN analysts expect the highest economic growth in Turkmenistan and Tajikistan—6% each—and the lowest in Russia—1.5%. The study also notes that inflation in Armenia will be 2.2% in 2025 and 2.3% in 2026. Figures and forecasts for the Armenian economy Armenia's economic growth is projected at 7% in the 2024 state budget and 5.1% in the 2025 budget. According to the Central Bank's report on monetary ...
01/13/2025Inflation of 1.5% registered in Armenia in December, 1% for the month
... compared to November). The restaurant and hotel sectors saw a 1.4% increase year-on-year (a 0.2% decrease compared to November). Prices for various goods and services decreased by 1.6% year-on-year (a 0.4% decrease compared to November). In the non-food market, prices in December 2024 decreased by 1.8% compared to December 2023, but increased by 0.3% compared to November 2024. Furthermore, tariffs for services to the population increased by 2.5% year-on-year in December 2024, with no inflation recorded compared to the previous month. Armenia's economic growth in the 2024 state budget is projected at 7%. The Central Bank of Armenia expects economic growth in 2024 to range between 6.5% and 5.8%.
01/10/2025Consumer prices in Armenia increase by 0.2% in 11 months
... 2024. According to the NSC, prices for industrial goods in January-November 2024 increased by 3.4% compared to the same period in 2023. In November 2024, prices for industrial goods grew by 6.1% year-on-year, but decreased by 0.2% compared to October. Inflation Figures and Forecasts The Armenian state budget for 2024 sets inflation at 4% (±1.5%), and for 2025, it is forecasted at 3% (+1%). In November, the 12-month inflation rate was 1.4%. According to the Central Bank's monetary policy report for ...
12/25/2024IMF: Armenia's 2025 budget well-balanced
....84 trillion drams, and expenditures total 3.4 trillion drams (of which 2.7 trillion drams are current expenditures, and 734 billion drams are capital expenditures). The deficit is 604 billion drams. Economic growth is projected at 5.1%, with average inflation at 3.5%. The government debt-to-GDP ratio is forecasted at 54.3%. ($1 = 394.59 drams)
12/18/2024IMF forecasts economic growth slowdown in Armenia
....5%, though accelerating structural reforms could enhance growth potential," the fund stated. As noted by IMF Deputy Managing Director and Acting Chairman Bo Li, Armenia's economic outlook is positive, characterized by sustainable growth and low inflation. "The results of the Stand-By Arrangement program are strong, but consistent, prudent policies and reform efforts remain crucial for preserving reserves and enhancing resilience in an still uncertain domestic and external environment," ...
12/18/2024Armenia faces financial trilemma – State Revenue Committee Head
... December 4, the National Assembly of Armenia approved the updated draft of the state budget for 2025. According to the adopted draft, economic growth is expected to reach 5.1% in 2025 (down from the initial 5.6%, prior to amendments). The planned average inflation rate is 3.5%. State budget revenues are projected at approximately 2.84 trillion drams, which is 35.5 billion drams lower than the initial estimate. The decrease in tax revenues is estimated at 39.6 billion drams. The revised draft also shows ...
12/17/2024EDB expects Armenia's refinancing rate cut cycle to end in H1 2025
The Eurasian Development Bank (EDB) expects Armenia's refinancing rate cut cycle to end in H1 2025 as inflation approaches the Central Bank’s target range (3% +/- 1%). YEREVAN, December 16. /ARKA/. The Eurasian Development Bank (EDB) expects Armenia's refinancing rate cut cycle to end in H1 2025 as inflation approaches the Central Bank’s target ...
12/16/2024EDB excludes risk of “overheating” in Armenian economy from construction and lending (EXCLUSIVE)
... construction and lending. This was stated by Alexei Kuznetsov, head of the EDB's analytical work directorate, in an interview with ARKA news agency "Certain conditions must be in place for “overheating” to occur, including excess consumer demand, inflation, and an increase in the debt burden on households. However, there are no such risks at the moment," he said. The head of the bank's analytics department noted that economic growth in Armenia reached 6% from January to September 2024. At ...
12/12/2024EDB forecasts 1.8% inflation and further refinancing rate cut in 2024
... primarily due to price dynamics in the food sector. Food prices increased by 1.7% year-on-year in November, following a 0.5% year-on-year decline the previous month. "In November, the growth in prices for services remained at 3.0% year-on-year. Disinflation in the non-food sector remained unchanged from the previous month at 2.1% year-on-year," the report says. Inflation Figures and Forecasts The 2024 state budget of Armenia projects inflation at 4% (±1.5%). In November, 12-month inflation was 1.4%. According ...
12/09/2024Armenia's unemployment drops 9.3%, hired workers rise 5.6% in September - Ministry of Finance
... nominal wage in Armenia increased by 6.8%, reaching 279,279 drams. At the same time, wages in the public sector rose by 7.2%, to 218,809 drams, while in the private sector, they increased by 6.5%, to 303,014 drams. “Real wages, in the context of 0.6% inflation, increased by 6.1%,” the study notes. As noted in the previously published report by the Armenian Ministry of Economy, “Armenia: Economic Prospects: January-September 2024,” the three highest-paid sectors in Armenia in September 2024 were ...
12/05/2024Armenian Finance Minister assesses risks to 2025 budget
... utility payments, and other costs. About the Draft State Budget for 2025 On December 4, 2024, the National Assembly of Armenia approved the updated draft state budget for 2025, which projects a GDP growth of 5.1% for the coming year. The planned average inflation rate is 3.5%. State budget revenues are expected to reach approximately 2.84 trillion drams, while expenditures will total around 3.4 trillion drams. (Exchange rate: $1 = 402.72 drams).
12/05/2024Armenia boosts defense to support education development - Finance Minister
... simultaneously build 153 schools is planned. About the Draft State Budget for 2025 On December 4, 2024, the National Assembly of Armenia approved the updated draft state budget for 2025, which projects a 5.1% GDP growth for the coming year. The planned average inflation rate is 3.5%. The state budget revenues will total approximately 2.84 trillion drams, while expenditures will amount to 3.4 trillion drams. It was previously reported that the increase in budget allocations for 2025 primarily affected the defense ...
12/05/2024Food products in Armenia rose by 1.7 per cent year-on-year in November
... November, pork decreased in price by 3.4% year-on-year, poultry meat - by 3.9%, while mutton increased by 4.8% . Fish and seafood prices increased by 5 per cent in November 2024 to November 2023. At the same time, fresh milk in November over the year ... ... and beer increased in price by 3.7%. Tobacco products in November increased in price by 1.2% year-on-year. Armenia recorded inflation of 1.4 per cent in November 2024 compared to November 2023. -0-
12/04/2024Inflation in Armenia registered at 1.4% in November, 1.3% for the month
In November 2024, inflation in Armenia was 1.4% compared to November 2023, and 1.3% for the month. YEREVAN, December 4. /ARKA/. In November 2024, inflation in Armenia was 1.4% compared to November 2023, and 1.3% compared to October 2024, according to the latest numbers, released by the National Statistical Committee (NSC). According to the NSC, in November 2024, compared to November 2023, prices for food products and non-alcoholic beverages rose by 1.7%, and by 3.1% compared to the previous month. Alcohol and tobacco products rose in price by 4.1% in November compared to November 2023 , and by 0.4% compared to October of this year. Prices for clothing ...
12/04/2024IMF forecasts inflation in Armenia at 0.2 percent in 2024 and 3.1 percent in 2025
The International Monetary Fund (IMF) expects inflation in Armenia to be 0.2% in 2024 and 3.1% in 2025. YEREVAN, November 26. /ARKA/. The International Monetary Fund (IMF) expects inflation in Armenia to be 0.2% in 2024 and 3.1% in 2025. "Inflation in Armenia will remain within the target ...
11/26/2024Consumer prices in Armenia show zero growth in 10 months, same as last month
... same year. According to the NSC, prices for industrial goods in January-October 2024 increased by 3.1% compared to the same period in 2023. In October of this year, prices for industrial goods increased by 4.9% year-on-year and by 1.8% month-on-month. Inflation Figures and Forecasts The Armenian state budget for 2024 projects inflation at 4% (±1.5%). According to the Central Bank's monetary policy report for the third quarter of this year, inflation in Armenia is expected to be within the range of ...
11/25/2024Armenia's GDP growth slowed to 5.2 per cent to about AMD 2.7 trillion in Q3 - official statistics
... Sectors that also showed growth compared to the third quarter of last year were manufacturing at 8.9 per cent, accommodation and food services at 7.2 per cent, water supply, sewerage and waste management at 6.4 per cent, health and social services at 5.1 ... ... agriculture, forestry and fisheries - 1.2%. Armenia's economic growth in the state budget for 2024 is envisaged at the level of 7%, inflation – at 4% (±1.5%). According to preliminary data, Armenia's economic activity in January-September 2024 grew by 8.7 ...
11/20/2024Armenia to spend more on debt servicing than on economy, healthcare, and education – MP warns of risks
... state budget for 2025, approved by the Armenian government at the end of September 2024, forecasts revenues of 2.87 trillion drams, expenditures of 3.48 trillion drams, and a deficit of 609 billion drams. Economic growth is projected at 5.6%, average inflation at 3.5%, and the government debt-to-GDP ratio at 53.5%. (Exchange rate: $1 = 387.51 drams). -0-
11/13/2024Armenian Central Bank head names measures to boost 5.6 per cent economic growth in 2025
... state budget for 2025, approved by the Armenian government in late September 2024, calls for revenues of 2.87 trillion drams, expenditures of 3.48 trillion drams and a deficit of 609 billion drams. Economic growth is planned at 5.6 per cent, average inflation at 3.5 per cent, and the government debt-to-GDP ratio at 53.5 per cent. ($1 - 387.51 drams).-0-
11/12/2024Inflation below Central Bank forecast: EDB expects another cut in refinancing rate in Armenia
... November. /ARKA/. Inflation in Armenia remains below the forecast of the Central Bank (about 2.0%), which is likely to prompt another cut in the refinancing rate in December, according to the weekly macro review of the Eurasian Development Bank (EDB). ‘Inflation in Armenia stood at 0.6% yoy in October, the same as a month earlier. Prices in the food segment continued to decline - food products fell in price by 0.5% y/y in October after declining by 1.0% y/y a month earlier. The growth of prices for services also slowed down in October, reaching 3.3% yoy after 3.6% yoy a month earlier. Armenia's ...
11/11/20240.6% inflation recorded in October, 0.3% for the month
In October 2024, inflation in Armenia was recorded at 0.6% year-on-year and 0.3% month-on-month. YEREVAN, November 5. /ARKA/. In October 2024, inflation in Armenia was recorded at 0.6% year-on-year and 0.3% month-on-month. This is according to data from the report by the National Statistical Committee of Armenia. According to the NSC, in October 2024, prices for food products and non-alcoholic beverages decreased by 0.5% year-on-year, while they rose by 0.9% over the month. Alcohol and tobacco products increased in price by 3.9% year-on-year in October and by 0.2% compared to September. Clothing and footwear ...
11/05/2024Armenia's state budget - 2025: Former Finance Minister assesses risks of main financial document
... approved by the Armenian government at the end of September 2024 envisages revenues of 2 trillion 873 billion drams, expenditures - 3 trillion 482 billion drams. 482 billion drams, deficit - 609 billion drams. Economic growth is planned at 5.6%, average inflation at 3.5%, and the ratio of government debt to GDP at 53.5%. ($1 - 387.17 drams).-0-
11/04/2024EDB expects another reduction in Armenia’s refinancing rate
Taking into account the persistent inflation below the target range of the Central Bank of Armenia (4±1.5%), the Eurasian Development Bank (EDB) expects another reduction in the refinancing rate in December. YEREVAN, November 4. /ARKA/. Taking into account the ...
11/04/2024Central Bank of Armenia plans to reduce the inflation target to 3%
The Central Bank of Armenia is considering lowering its inflation target from the current 4% to 3%, as it has "built up enough muscle mass for this," stated the head of the regulator, Martin Galstyan. YEREVAN, October 29. /ARKA/. The Central Bank of Armenia is considering lowering ...
10/29/2024Armenia's economy expected to grow by 5.6 per cent in 2025 - Finance Minister
... billion drams. The projected budget deficit is 5.5 per cent or 609 billion drams. The minister noted that next year the tax-to-GDP ratio is expected to make 25%. The draft state budget for 2025 approved by the Armenian government envisages an average inflation of 3.5%, and the ratio of government debt to GDP - at 53.5%. ($1 - 387.25 drams).-0-
10/28/2024Armenia's 2025 state budget allocates 905 billion drams for social expenditures - Ministry of Finance"
... government’s draft budget for 2025, approved in late September 2024, projects revenues of 2.873 trillion drams, expenditures of 3.482 trillion drams, and a deficit of 609 billion drams. The budget also anticipates 5.6% economic growth, 3.5% average inflation, and a government debt-to-GDP ratio of 53.5%. (Exchange rate: $1 = 387.25 drams). -0-
10/28/2024Armenia to allocate over $1.7 billion for defense in 2025- Finance Minister
... government’s draft budget for 2025, approved in late September 2024, projects revenues of 2.873 trillion drams, expenditures of 3.482 trillion drams, and a deficit of 609 billion drams. The budget also anticipates 5.6% economic growth, 3.5% average inflation, and a government debt-to-GDP ratio of 53.5%. (Exchange rate: $1 = 387.25 drams). -0-
10/28/2024Pashinyan names 5 concepts that form the basis of Real Armenia's state budget
... approved by the Armenian government at the end of September 2024, calls for 2 trillion 873 billion drams in revenue and 3 trillion 482 billion drams in spending. The projected deficit is 609 billion drams. Economic growth is planned at 5.6%, average inflation -at 3.5%, and the ratio of government debt to GDP -at 53.5%. ($1 - 387.25 drams).-0-
10/28/2024Consumer prices in Armenia in January-September 2024 showed zero growth
... prices for industrial goods in January-September 2024 compared to the same period in 2023 increased by 2.9%. In September 2024, prices for industrial goods were up 2.9%, and they showed zero growth as opposed to August 2024. Armenian government’s inflation projection for 2024 is 4% (±1.5%). In September 2024, the 12-month inflation was 0.6%. The Central Bank projection is 2.1-2% for 2024. The World Bank expects inflation in Armenia to be 3% in 2024, 3.5% in 2025, and 4% in 2026. The IMF predicts ...
10/25/2024IMF leaves Armenia's economic growth forecast unchanged for 2024 and expects a slowdown in 2025
... the year, driven by domestic demand. Employment growth has been steady, averaging 19 percent since the start of 2023, while inflation has remained low at 0.6 percent year-on-year in September. The current account deficit has widened as transitory factors ... ... geopolitical tensions and potential growth setbacks in trading partners, a reversal of capital inflows, and surges in global food and energy prices. ‘On the upside, growth could exceed expectations if net exports perform better than anticipated and ...
10/22/2024How to invest in shares and make profits: a guide from Unibank Invest
... stock market, and should a novice investor follow the news? N. Gharibyan - Yes, of course, there are a lot of macroeconomic factors to consider when choosing certain securities. You should pay attention to some basic parameters: the Central Bank rate, inflation data, GDP. And also to political events, conflicts, trade agreements between countries, corporate news - takeovers, sales of companies. It is also worth taking into account regulatory changes, changes in legislation. But if we are talking ...
10/10/2024Slowdown in inflation in Armenia is linked to price dynamics in the food segment – EDB
... month earlier). This is stated in the weekly macro review of the Eurasian Development Bank (EDB). "In September, the growth of prices for services continued to accelerate, amounting to 3.6% y/y after 3.3% y/y a month earlier. At the same time, disinflation in the non-food segment intensified. Inflation still remains below the target range of the Armenian Central Bank," the bank says. At the same time, the EDB’s forecast for inflation in Armenia remains unchanged – 1.5% y/y by the end of the current year....
10/07/2024Inflation in Armenia in September made 0.6 per cent
Inflation in Armenia rose by 0.6 percent in September 2024 compared to September 2023 and by 0.2 percent compared to August 2024, the National Statistical Committee (NSC) said. YEREVAN, 3 October. /ARKA/. Inflation in Armenia rose by 0.6 percent in September 2024 compared to September 2023 and by 0.2 percent compared to August 2024, the National Statistical Committee (NSC) said. According to the NSC data, prices of food and non-alcoholic beverages decreased by 1 per cent in September 2024 compared to September 2023 and by 0.6 per cent compared to August 2024. Alcohol and tobacco prices rose 4.1 per cent year-on-year and 0.1 per cent from August this year. Clothing ...
10/03/2024EBRD keeps Armenia's economic growth forecast for 2024 at 6.5%, but points to risks
... robust inflows of secondary income related to refugees. Despite the temporary pressure on government expenditure for accommodating refugees and strengthening national defence, the fiscal position remains stable with a moderate deficit. Meanwhile, falling food prices and a relatively higher central bank policy rate caused the inflation rate to hover around zero. Operations of the new gold mine from early 2025 give an additional boost to the medium-term economic outlook. GDP growth is expected to ease to 6.2 per cent in 2024 and 4.8 per cent in 2025. Geopolitical developments ...
09/26/2024Armenian government approves draft state budget for 2025, economic growth is planned at 5.6%
... has been formed taking into account the revised expenditure strategy for 2025-2027. "For 2025, the Gross domestic product (GDP) volume is projected at 11 trillion 50 billion drams, economic growth at 5.6%, GDP deflator index at 3.5%, average inflation at 3.5%. State budget revenues are planned at 2 trillion 873 billion drams, of which 2 trillion 760 billion drams are tax revenues," the minister said. According to him, as a result of improved administration, the tax-to-GDP ratio will ...
09/26/2024Consumer prices in Armenia fell by 0.1% in January-August
... the prices of industrial goods in January-August 2024 compared to the same period of 2023 increased by 2.9%. In August this year, year-over-year prices of industrial goods rose 3.5%, while for the month, they fell 1.4%. In the state budget for 2024, inflation is set at 4% (±1.5%). According to the Central Bank's monetary policy report for the third quarter of this year, inflation is expected to be within 2.1-2% by the end of 2024.-0- The WB expects inflation in Armenia to be 3% in 2024, 3.5% in ...
09/25/2024Armenia's Central Bank expects the economy to grow by 6.5-5.8% in 2024
... Galstyan previously announced the launch of a new second-generation monetary policy analysis and forecasting system (FPAS Mark II) in 2024. Thus, in its forecasts, the Central Bank relies on two scenarios: in the first scenario (A), the regulator's inflation forecasts are higher than those of market participants, and in the second scenario (B), they are lower. Thus, in scenario "A", Armenia's GDP growth in 2024 is projected at 6.5%, and in scenario "B" - at 5.8%. The forecast ...
09/12/2024Inflation in Armenia rises by 1.3% in August
... consecutive month of growth, rising by 1.0% in August, compared to 0.7% in July. Additionally, service sector prices accelerated slightly, with a 3.3% year-on-year increase, up from 3.1% in the previous month. However, deflationary trends in the non-food sector intensified. Despite the inflationary uptick, the rate remains below Armenia’s Central Bank target range. The EDB maintains its forecast for year-end inflation at 1.5%. Armenia’s 2024 state budget sets inflation at 4% (±1.5%). The Central Bank projects inflation to close ...
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