WORLD BANK SAYS GAS PRICE HIKE NOT TO AFFECT STRONGLY ARMENIAN ECONOMY

Armenpress
Mar 15 2006

YEREVAN, MARCH 15, ARMENPRESS; A World Bank representative said today
in Yerevan the Bank will unveil its study on possible repercussions
of Russia’s decision to double the price of natural gas it sells to
Armenia in a week.

Rodger Robinson, World Bank resident representative, told a news
conference that according to preliminary estimations, the gas price
hike will affect Armenia’s economy, but the scale of that negative
impact will not be “too big”. Robinson said the higher price of gas
will affect current electricity tariffs, but declined to elaborate
saying it would be more appropriate to speak about hike’s aftereffects
only after completing the Bank’s study.

But he said the Central Bank of Armenia’s goal to ensure a three
percent inflation was realistic.

Robinson said his forecast was based on the fact that despite ongoing
rise of fuel price at world markets it has had no negative impact on
Armenian economy which has been reporting a two-digit economic growth
for several consecutive years.

From: Emil Lazarian | Ararat NewsPress