IMF Expects 3% Inflation In Armenia By End 2009

IMF EXPECTS 3% INFLATION IN ARMENIA BY END 2009

ARKA
Sep 17, 2009

YEREVAN, September 17. /ARKA/. International Monetary Fund expects 3%
inflation in Armenia by the end of this year, head of IMF mission
Mark Lewis told a press conference Wednesday.

No doubt, there are factors that may bring inflation both up and
down, Lewis said. Yet, inflation is within the target level set by
the Central Bank, he said.

Under the state budget, inflation is set at 4% (±1.5%) for 2009.

The Central Bank expanded its instruments to ensure liquidity for
control over private sector lending, Lewis said adding that the bank
should be ready to adjust its monetary and credit policy in response
to crisis escalation or inflationary pressures over the expectations.

In August, according to the RA National Statistical Service, inflation
was 2% in Armenia as compared with December 2008.

0.4% deflation was recorded in August against July with 3.5% inflation
recorded in August this year against August 2008.

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