Pashinyan administration taking measures to suppress inflation

YEREVAN, FEBRUARY 3, ARMENPRESS. Armenia had significant inflation during 2021, which grew 7,7% compared to 2020, Prime Minister Nikol Pashinyan said at the Cabinet meeting.

“This is more than we had projected in the state budget. As you know, inflation is a global problem and for the record we must say that there is no process happening in Armenia individually. We are trying to take measures to suppress inflation. We hope that this year we will succeed in bringing the inflation to the planned interval,” he said.

The PM added that he hopes that a 7% economic growth will be recorded.

Preliminary data shows 5,8% growth for 2021, which is more than projected, but “less than desired” he added.

“Very serious efforts are needed to reach our defined threshold,” Pashinyan said.