Armenia expects to register a 4% drop in the economy in 2011, despite the figures in the state budget, former Prime Minister Grant Bagratyan, PhD in Economy, is quoted as saying by ARKA.
Armenia expects the economy to grow by 4.6%, inflation at 4% (±1,5%). Inflation of food and services is set to increase 12.5%. According to inflation data, the state budget should not be overfulfilled by at least 0.3%, as set in the budget, but rather 4.5%.
Bagratyan noted that there were no problems with the national currency rate. But things may change in 2012 due to reduction of private transfers. The authorities should sterilize foreign currencies, he believes.
The National Statistical Service of Armenia said that inflation in November 2011 was 4.8%, as a result of higher food prices (including alcohol and tobacco products) by 6.4%, non-food products – 3.8%.
