YEREVAN, May 5. /ARKA/. Armenian acting Economy Minister Vahan Kerobyan said today the ministry was working with the Central Bank to try to curb the growing inflation using not only the instruments of the monetary policy, but also economic measures.
Kerobyan also reminded that recently the deputy head of the Central Bank Nerses Yeritsyan announced the expected return of inflation to the target range of 4% (± 1.5%).
“The price growth figures released today show that inflation in this April was 6.2% up from 2020 April, and although this is not a double-digit figure, but above the target range,” he said.
According to Kerobyan, the current inflation in Armenia is not very high in comparison with other countries.
“We are not going to sit back and are working to try to contain inflation with proactive measures. Yesterday, the head of the Central Bank Martin Galstyan said that preliminary forecasts for the economy had been more pessimistic. In other words, the economy growth trend turned out to be better than expected” Kerobyan said.
According to official data, Armenia’s economic activity in the first quarter of 2021 dropped by 2% compared to the same period in 2020. However, in March 2021 it grew by 9.6% from the previous month and by 3.8% from March 2020. -0-
