YEREVAN, September 14. /ARKA/. The Central Bank of Armenia expects the yearend inflation to be around 10%, Chairman Martin Galstyan said at a press conference today. He said the inflation rate will approach its target during the third quarter of 2023.
According to the National Statistical Committee, Armenia’s 12-month consumer inflation rate was 9.1 percent in August 2022.
Armenian government’s growth projection for 2022 is 7%; the inflation is set at 4% (± 1.5%). 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-
