Yerevan/Mediamax/.  Head of Monetary-Credit Policy Department of Armenian Central Bank (CB) Artur Stepanyan refuted today the suppositions on inevitable increase of inflation.

Mediamax reports that, speaking “CB Monetary-Credit Police for 2010” seminar, Artur Stepanyan stated that “the 9.4% inflation as a result of 12 months, registered in February, is a peak index”. According to him, following the results of this and following months, the inflation will be far lower, as compared to the analogous indexes of 2009, even in conditions of the increase of gas tariffs due in April.

He noted that according to CB assessments, the inflation index in May, following the results of 12 months, will make 7-8%.

“The target level of inflation for this year makes 7.4% (without taking into account CB activity and the possible developments in the global market), however CB does not have it as a priority goal to necessarily reach the mentioned level by the end of the year, since we understand that the economy is reviving, and it would be wrong to reach a target level of inflation by making abrupt steps, thus hindering economy growth”, Artur Stepanyan stated.

He stressed that, just like in 2009, in 2010 CB will balance economy growth and inflation, since it realizes that “the relatively stable index of inflation to significant extent contributes to stable economic growth”.