WORLD BANK SAYS ARMENIAN GOVERNMENT MAY BRING INFLATION DOWN TO PROJECTED LEVEL

/ ARKA /
July 7, 2011
YEREVAN

YEREVAN, July 7. / ARKA /. The World Bank believes that the Armenian
government may bring the yearend inflation down to the WB projected
rate of 6.5%, head of World Bank Yerevan Office, Jean-Michel Happi,
said at a news conference today.

“A set of measures and projects implemented by the Armenian government
will help reduce inflation and bring it to the projected rate of 6.5%,
which the World Bank believes is quite realistic,” Mr. Happi said.

According to the National Statistical Service, the June inflation was
8.5% year-on-year, driven up mainly by an increase in food prices. The
2011 e budget projects 4% (± 1.5%) inflation.