Thu, 3 July
16.1 C
Yerevan
USD: 384.51 RUB: 4.89 EUR: 452.41 GEL: 141.37 GBP: 526.78

Central Bank of Armenia says yearend inflation may drop to 5.5%-7.5%

YEREVAN, May 3. / ARKA /. The Central Bank of Armenia forecasted in its money and credit policy program for the first quarter of 2011 that the yearend inflation may drop to one digit 5.5%-7.5%. But the figure would still be above the maximum level of 4% (±1,5%) targeted by the Armenian authorities.

This forecast is based on the assumption that the current market rates would be preserved, which means that all potential inflation changes are taken into consideration given that the current money and credit policy will not change.

The Central Bank predicted that the six month inflation rate will still be high, largely due to unprecedented rise of prices of agricultural goods started late last year as well as rising global food and commodity prices.

According to the Central Bank program, the inflation rates will start going down from the beginning of the third quarter and may drop to 5.3% by yearend. The Central Bank said also that in conditions of uncertainty the probability is high that inflation deviation may reach 41% form the projected target of 4%. This in view the Central Bank predicts that the annual inflation rate may be between 5.5%-7.5%.

Earlier prime minister Tigran Sarkisian and other Armenian officials predicted that inflation will fall by the end of the year thanks to robust growth projected in the agricultural sector.  -0-

Inflation interval Inflation

interval probability

II

quarter 2011

IV

quarter 2011

<

3,0%

0,00% 1,4%
3,0 – 4,0% 0,00% 7,1%
4,0 – 5,5% 0,00% 31,0%
5,5 – 7,5% 0,04% 40,9%
7,5 – 9,5% 41,4% 16,5%
9,5%

<

53,9% 2,6%

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

LATEST NEWS

spot_imgspot_imgspot_img