IMF Predicts Armenian Inflation Will Slow To 5% In 2009

IMF PREDICTS ARMENIAN INFLATION WILL SLOW TO 5% IN 2009

Interfax
Nov 19 2008
Russia

The International Monetary Fund is forecasting that inflation in
Armenia will slow to 5% in 2009 compared to expected consumer price
growth of 7.5% in 2007, the IMF’s Yerevan office said in a statement.

IMF Deputy Managing Director Murilo Portugal said at a recent IMF
board of directors meeting that inflation in Armenia had been at a
high level until September, after which growth began to decline due
to a reduction in food prices.

Armenian GDP will grow by 8% in 2009 compared to expected growth of
10% this year, Portugal said. Inflationary pressure will subside as
a result of the slowdown in economic growth, he said.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS