MINIMUM BASKET OF GOODS TO BE BROUGHT UP TO $132.5 IN ARMENIA

ARKA
Oct 2, 2008

YEREVAN, October 2. /ARKA/. A draft law on minimal basket of goods
is under development in Armenia. The monthly basket is expected to
amount to 40,000 Drams ($132.5), Armenian Minister of Labor and Social
Issues Arsen Hambartsumyan told journalists in Yerevan.

According to the RA National Statistical Service, monthly minimum
basket of goods was 36,538.8 Drams ($119) at the end of the second
quarter (on actual prices recorded during the quarter). It is a 2.9%
reduction against the previous month and a 0.54% as compared with
the second quarter of last year.

The basket components and structure is developed by the Ministry
of Healthcare.

Hambartsumyan reported that calculations will be made as per different
social and demographic groups.

Both the inflation planned under the budget and the expected rise in
gas prices as from April 1 2009 will be considered in developing the
draft law, he said.

4% (±1.5%) inflation was planned by the end of this year under the
state budget. According to Vice-Chairman of the Central Bank of Armenia
Vache Gabrielyan, inflation may reach even 7-8% by the end of the year.

Price for gas supplied to Armenia is to be 154 USD per 1,000 cubic
meters including VAT as from April 1 2009 against the current 110
USD including VAT.

–Boundary_(ID_iqw+Sk5ggJFA6gqxZrWQPw)–