YEREVAN, April 1. / ARKA /. Gagik Minasian, chairman of a parliament committee on financial, credit and budgetary issues, said today the yearend inflation will be within the projected target of 4-6%.
Speaking at a news conference he said although the inflation in the first quarter of 2011 rose by 5.2% and the 2011 March inflation is expected to be 11.2% higher from 2010 March, a set of measures planned by the government and Central Bank inspire hope that by yearend it will drop to 4-6%.
In his words, the government projected inflation rate is feasible for a variety of reasons, including good preconditions for agriculture to post a tangible growth this year.
The government has projected a 4.6% GDP growth for this year and a 4±1.5% inflation rate. The Central Bank has forecast a 4.1%-5.7% growth for the first quarter of 2011. The added value in the industrial
sector is forecast to grow 6-8%. The Central Bank expects the industrial output to grow by 6-8%. The overall growth is supposed to be backed also by growth in food industry, production of electricity, construction and agriculture. -0-
