Armenian Central Bank governor notes high economic growth, low inflation

The slight increase in inflation in Armenia — 3.7% in September — was driven by supply factors, Central Bank Governor Martin Galstyan said at a press conference.

“The GDP growth is very close to its potential. We believe we are in a good position, as we have high economic growth and low inflation. The recent slight increase in inflation — currently at 3.7% — is mainly driven by supply-side factors,” Central Bank Governor Martin Galstyan said.

He noted that central banks generally refrain from responding to supply-side factors, as their main task is to manage inflation driven by demand components.

When asked about possible economic growth scenarios for 2025, Galstyan said that, according to assessments of financial market participants, the forecast stands at around 5.2%.