Only Armenia Among EAEU Countries Without Double-Digit Inflation, We Have Been Able to Fight Against Inflation - Papoyan

Published are the inflation rates of countries around the world, and interestingly, Armenia is the only country among the EAEU nations that does not have double-digit inflation. This was stated by Gevorg Papoyan, a member of the ruling party, during the regular session of the National Assembly's Standing Committee on Financial and Budgetary Affairs.

“In Russia, inflation is at 16.7%, in Belarus 15.9%, in Kazakhstan and Kyrgyzstan 13.2%, while in Armenia it is about 8%. When we look at our neighbors, inflation in Turkey is 70%, in Iran 35.6%, in Georgia 12.8%, and in Azerbaijan 12.2%. This indicates that inflation in our main partner countries is at historically high levels. It gives certain insights into the overall environment and allows to appropriately evaluate the work of the Central Bank. Among various objective and subjective factors, I believe that the proper role of the Central Bank is crucial. We are moving in the right direction, and the tools being used are very effective,” said Papoyan. He noted that while Armenia's figures are not satisfactory, the country has managed to combat inflation.