Will Inflation Persist Until Year-End? What the Central Bank President Says

Armenia will end 2021 with an economic growth of 4.2 percent. This was stated by the President of the Central Bank, Martin Galstyan, during a press conference today.

Instead of the current inflation rate of 9.6 percent, it is expected to be 8.4 percent by the end of the year. “In order to mitigate the high inflation expectations that have formed and to meet the inflation target, the central banks of partner countries continue to tighten monetary conditions. In this context, an increase in the inflationary impact on the Armenian economy from the external sector is expected,” noted Martin Galstyan.

The Central Bank President indicated that, considering the significant increase in inflationary pressures coming from the external sector, the Central Bank Council finds it appropriate to raise the refinancing rate.