Sun, 31 August
35.1 C
Yerevan
USD: 384.03 RUB: 4.80 EUR: 443.29 GEL: 142.29 GBP: 510.11

EDB expects 5.4% inflation in Armenia in 2021

YEREVAN, July 9, /ARKA/ “The rapid recovery of the global economy, fuelled by credit and budgetary injections in developed countries, is driving asset prices up massively,” said Even Vinokurov, chief economist at the Eurasian Development Bank (EDB).

“Temporary factors, such as pandemic-induced disruptions in production chains, the shrinking choice of suppliers and components, and the reduced supply of certain crops, also contribute to this situation. As a result, we are seeing a global spike in inflation. Almost forgotten in the 2010s, rising inflation rates have not only returned to the agenda of central banks globally, but have also become a difficult challenge for monetary policy,’ he said.

EDB analysts forecast the average inflation in the Bank’s member states to slow from 6.6% YoY in May to 5.6% by the end of 2021 due to an easing of demand-side inflationary pressures and the recovery of production chains. In Armenia, the EDB expects inflation of 5.4% at the end of the year; in Belarus, 8.7%; in Kazakhstan, 6.7%; in Kyrgyzstan, 7.7%; in Russia, 5%; and in Tajikistan, 7.4%.

In the face of heightened inflationary pressures, the EDB forecasts further cuts in monetary stimulus in most countries in the region.

The Bank’s analysts expect Russia’s key rate to rise to 6–6.5% to keep the economy from overheating. With the projected slowdown in inflation, the Bank expects a transition to neutral monetary conditions in most EDB member states over the medium term. -0-

spot_img

POPULAR

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.

Changes made to compulsory motor liability insurance in Armenia

The Armenian Bureau of Motor Insurers has launched a new feature, as reported by the Central Bank of Armenia.

Armenia’s overall public debt rose by approximately 1.8% to reach $14.1 billion as of July 2025

As of July 31, 2025, Armenia's total public debt was recorded at $14,098.6 million, an increase from $13,852.1 million as of June 30, 2025,according to the Ministry of Finance.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

ODDO BHF financial group exploring potential collaboration with Armenian public sector and private enterprises

On Thursday, Armenian Economy Minister Gevorg Papoyan welcomed a delegation from the ODDO BHF financial group, as reported by the press service of the Ministry of Economy.

LATEST NEWS

spot_imgspot_imgspot_img