Inflation in accommodation and food services is 8,7% – central bank governor

10:31,

YEREVAN, JUNE 15, ARMENPRESS. The Central Bank doesn’t view the fight against inflation to have ended, Central Bank Governor Martin Galstyan told lawmakers.

“Inflation last year was due to both supply and demand. The main component of demand was of external origin, meaning we had an inflow of international visitors who developed the demand for Armenia’s goods and services, and as a result we see that even until now the inflation in accommodation and food services is 8,7%,” Galstyan said, adding that they don’t find the fight against inflation to be completed.

The Central Bank is forecasting 6,9% economic growth for 2023. “But we must understand that in long-term and mid-term the economy can’t endlessly keep on growing beyond its potential,” Galstyan warned.

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