OPINION: ARMENIA LIKELY TO RECORD 7 TO 8% INFLATION THIS YEAR

ARKA
September 9, 2009
YEREVAN

YEREVAN, September 8. /ARKA/. Armenia may record seven- or
eight-percent inflation this year, according to the most pessimistic
forecasts, Manuk Yerghnyan, the head of "Economy and Values" Research
Center and the managing partner of EV Consulting, said Tuesday in
Novosti International Press Center.

National Statistical Service of Armenia placed two-percent inflation on
record in August 2009, compared with December 2008 and 0.4% deflation
compared with July.

Armenia also faced 3.5% year-on-year inflation in August.

Yerghnyan finds high inflation unlikely this year.

He reiterated his 12-to14-percent inflation forecast voiced earlier.

In Jan-July 2009, 18.5% economic decline was recorded in Armenia.

Armenia’s GDP totaled AMD 1417.1 billion (($3789.6 million) in
Jan-July 2009.

Armenian government has planned 9.2% GDP growth and 4% (1.5%) inflation
in the 2009 state budget.