Armenia’s 12-month inflation in July 2020 was 1.5 percent

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YEREVAN, August 6. /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.

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