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