CENTRAL BANK OF ARMENIA FORECASTS 3%-4.5% INFLATION AT THE END OF 2009

ArmInfo
2009-09-18 19:13:00

ArmIfno. The Central Bank of Armenia forecats 3%-4.5% inflation at
the end of 2009.

During a press-conference today Deputy Minister of Finance of Armenia
Vardan Aramyan said that this level is fixed in the budget.

The Government is enlarging its expenses and is planning to increase
allocations for its anti-crisis program. Growth in expenses will not
create additional inflationary pressures.

The budgetary expenditures in 2009 will make up 28% of GDP against 20%-
21% in 2008, social expenses will total 178bln AMD against 152bln AMD
a year before. In Aug 2009 there was 0.4% deflation, in Jan-Aug 2009 –
2% inflation.