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