Sun, 27 July
33.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Inflation in Armenia to stand at 2.5% in 2014 and at 4% in 2015 – IMF

YEREVAN, October 31. /ARKA/. Inflation in Armenia will stand at 2.5% in 2014 coming close to the bottom benchmark of the projected range 4% (±1.5%), and in 2015 it will reach 4% entering the projected frames, Teresa Daban Sanchez, the International Monetary Fund Resident Representative in Armenia, told journalists on Friday.

Many European countries, she said, faced deflation because of slump in oil prices and decline in food consumption at the world market, and all these developments impact also Armenia making it possible to keep low prices, and this gives room for maneuvering.

In her words, the central bank makes it possible to return inflation in the projected range by downing refinancing rate regularly for enhancing liquidity of the economy and spurring fiscal policy.

The Central Bank of Armenia has lowered its key refinancing rate by 0.25 percentage points to 6.75% on August 12. On September 12, the regulator left the refinancing rate unchanged.

Year-on-year inflation in Armenia was recorded at 2.9% in Jan-Sept 2014. The government’s projection of inflation for 2014 is 4% (±1.5%).

The 2015 draft budget also projects it at 4% (±1.5%). –0–

spot_img

POPULAR

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

Ranking of most profitable banks in Armenia based on results of first quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the first quarter of 2025.

LATEST NEWS

spot_imgspot_imgspot_img