Armenia’s 12-month inflation in July 2020 was 1.5 percent
YEREVAN, August 5. /ARKA/. The 12-month inflation in Armenia’s consumer market in July 2020 amounted to 1.5%, the National Statistical Committee (NSC) said.
According to the NSC, in July compared to June, the prices were down by 2.1%. At the same time, the inflation in the first seven months of 2020 was up by 0.7%, compared to the same period in 2019.
Armenia’s government budget for 2020, approved in 2019 December, called for economic growth of 4.9%. the inflation was projected at 4% (± 1.5%). However, on April 29, the parliament of Armenia approved a revision of budget indicators to offset the consequences of the COVID-19. The originally projected GDP growth of 4.9% was reduced to 2% Also, the original GDP volume of 7.095 trillion drams was reduced to 6.485 trillion drams and the earlier projected deficit budget of 160.7 billion drams was raised to 324 billion drams. —0-