TIGRAN SARGSYAN: ARMENIA ENTERS HIGH INFLATION PERIOD

PanARMENIAN.Net
01.04.2010 14:05 GMT+04:00

/PanARMENIAN.Net/ Armenian Prime Minister Tigran Sargsyan said that
the RA government is concerned over inflation, however, it is a result
of expanded monetary-credit and tax-budgetary policy implemented by
the RA government and Central Bank.

"We have entered a high inflation period. 0.8% inflation was recorded
in Armenia in March as compared with February, and this is not a bad
index," Mr. Sargsyan told a government session on April 1. He added
that the annual inflation index reached 8.8%. According to forecasts
for 2010, inflation will make 7%.

With respect to this, the PM voiced confidence that the Armenian
government and Central Bank will manage to restrain the inflation
pressures and the figure will decrease by the yearend.

According to Mr. Sargsyan, Armenia and the International Monetary
Fund have agreed with respect to the inflation suppression that the
macroeconomic indexes will have an insignificant impact on inflation
in 2010. "Moreover, if we manage to preserve the same level of tax
collection as recorded in the first quarter, it will allow suppressing
inflation in the country," he said.