MACROECONOMIC INDICATORS IN ARMENIA TO HAVE NEUTRAL IMPACT ON ECONOMY IN 2010
ARKA
Apr 1, 2010
YEREVAN, April 1. /ARKA/. Macroeconomic indicators will have neutral
impacts on the economy in 2010, Armenian Prime Minister Tigran Sargsyan
said at a regular governmental meeting on Thursday.
He said that of all macroeconomic indicators, high inflation rate
arouses the greatest concern.
Sargsyan said that unlike January and February’s month-on-month
indicators, the 0.8% inflation recorded in March is not bad result.
Armenia recorded 2.9% inflation in March 2010, compared with December
2009, and 8.8%, compared with March 2009.
The premier said that Armenia’s high inflation is also due to
expansionary tax, budget and monetary policies.
"And this is natural, since on the one hand, the expansionary policy
spurs economic growth, but on the other hand triggers inflation
pressures."
Sargsyan said that the central bank and the government view
implementation of measures aimed at curbing inflation as their
top-priority objective in the current situation.
The central bank thinks that the efforts to stem inflation will
produce some results, and "we’ll somewhat manage to curb inflation
pressure and drive inflation rate down", the prime minister said.
More than that – if tax inflow doesn’t dwindle, Armenian authorities
will be able to deter inflation.
Sargsyan also said that the central bank would tighten its instruments
to stem inflation pressures.
According to National Statistical Service of Armenia, consumer price
index in March 2010, compared with December 2009, was 102.9%, and
compared with March 2009, was 108.8%.
In the 2010 state budget, inflation is planned at 4% (±1.5%).