The pace of economic activity in Armenia recorded a slight decrease in February, reaching 7.2 percent, while inflationary pressures continued to increase against the backdrop of rising food prices. This is reported in the monthly report of the World Bank on the economic development of Armenia.
According to analysts, overall growth slowed slightly after the 7.6 percent rate recorded in January, but the industry and construction sectors made significant progress. Consumer prices have also maintained growth dynamics. In March, inflation reached 4.5 percent, mainly due to the increase in food prices. The foreign trade sector recovered after the decline at the beginning of the year, registering a double-digit growth in both exports and imports in February.
At the same time, the volume of net non-commercial remittances increased moderately by 5.2 percent year-on-year. As for public finances, a budget deficit was formed in February, in the amount of 0.2 percent of the projected annual GDP, although the cumulative balance is still in surplus according to the results of the first two months.
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