Time in Yerevan: 11:07,   1 March 2024

Inflation maintained at low, manageable level – Armenian PM

Inflation maintained at low, manageable level – Armenian PM

YEREVAN, SEPTEMBER 9, ARMENPRESS. The average inflation in Armenia comprised 1.9% in January-July 2019, and the 12-month inflation in July was 1.7%, Prime Minister Nikol Pashinyan said on Facebook.

“Currently inflation in Armenia is maintained at a low, manageable level, and the important is that it is less fluctuating. In January-July 2019 the average inflation was 1.9%, but the 12-month inflation in July was 1.7%. All this is ensured by the constant increase of trust towards the national currency in the recent period, which is also reflected in the declining inflationary expectations of households”, the PM said.

According to the polls conducted by the Central Bank of Armenia, currently almost all of the respondents (more than 95% based on the data of the third quarter of 2019) expect that the price stability will be maintained also in the future (in 1-5-year horizon), which is very important for the macroeconomic stability.

The PM said this means that households and organizations can better plan their economic activity, ongoing savings and investments.

“The increase of trust towards the national currency has also been reflected in the constant cut of dollarization level which has declined in the past one year (by nearly 4 percentage points), reaching 48.6% in July. This means that most of the Armenian citizens, 51.4%, prefer to keep their money in banks in drams, which is also very important, because it reduces the currency risks of economic entities and contributes to the additional improvement of the stability of financial system. By the way, I also did the same. I recently sold my Hyundai and keep the money in bank in drams”, he said.

Edited and translated by Aneta Harutyunyan

 








youtube

All news    


Digital-Card---250x295.jpg (26 KB)

12.png (9 KB)

About agency

Address: Armenia, 22 Saryan Street, Yerevan, 0002, Armenpress
Tel.: +374 11 539818
E-mail: [email protected]