YEREVAN, Sept. 5. /ARKA/. Armenia’s 12-month consumer inflation in August 2022 was 9.1%, according to the National Statistical Committee (NSC). In August 2022, the inflation was up 0.2% compared to July.
In January-August 2022 prices increased by 8.4% against the same period of 2021. Armenia’s GDP in the second quarter of 2022 registered a growth of 13% compared to the same period in 2020.
Central Bank Governor Martin Galstyan expects Armenia to end the current year with inflation exceeding 8%.
Armenian government’s growth projection for 2022 is 7%, and the inflation is set at 4% (± 1.5%). Armenia’s Central Bank revised earlier upwards the country’s GDP growth forecast for the current year from 1.6% to 4.9%
According to the World Bank’s latest Global Economic Prospects report, Armenia’s GDP in 2022 is expected to grow by 3.5%, down 1.3 p.p. from the previous forecast, made in January.
World Bank analysts expect Armenia’s GDP to grow by 4.6% in 2023 (0.8 p.p. down from the January forecast) and by 4.9% in 2024.
The International Monetary Fund (IMF) expects Armenia’s GDP growth to reach 5 percent in 2022, while inflation is projected to increase temporarily before moderating by the end of the year.-0-
