As of December 2021, inflation in Armenia was 7.4%, the average inflation was 7.2%. Hovhannes Khachatryan, Deputy Chairman of the Central Bank, said this today at the sitting of the Parliament’s Finance and Credit Committee, presenting the annual report on the activity of the Central Bank.
“The refinancing rate was raised from 4.25 to 7.75 percent during the year to curb inflation risks. For 2021, the Central Bank projected 1.5% economic growth. The inflation forecast was 6.2%. Gradually both the economic growth forecasts have changed, and the inflationary pressures from the external sector have increased over the year. As a result, we had 5.7 percent economic growth and 7.4 percent inflation,” he said.
Enumerating the reasons for inflation, Khachatryan stressed the changes in the international market.
Khachatryan said that 6.5% inflation and 1.5% economic growth are forecasted this year.