YEREVAN, February 17. /ARKA/. Inflation in Armenia may approach the target level by the end of 2023, Renaissance Capital’s senior economist for Russia and CIS+ Andrei Melashenko says in a report on regional economies.
“Inflation in most countries of the region continued to decline in January, 2023. In Armenia, Azerbaijan and Georgia, it slowed by 0.8, 0.2 and 0.4 pp to 13.6%, 8.1% and 9.4% y/y respectively. We expect the trend to continue in these countries, with inflation likely to approach target levels in Armenia and Georgia by the end of 2023 (4% and 3% respectively),” the report says.
Renaissance Capital’s experts do not expect any new placements of Eurobonds in the CIS+ region this year.
According to official statistics, inflation in Armenia was 8.3% in 2022 and 8.1% in January 2023 compared to January 2022.
Armenia’s economic growth is set at 7% in the 2023 state budget and inflation is set at 4% (±1.5%). The Central Bank of Armenia expects inflation to stabilize at the target 4% in the second half of 2023. -0-
