Yerevan/Mediamax/. Armenia was most successful among CIS states in deterring price growth.

This is stated in the “CIS Macromonitor” report of the Analytical Board of the Eurasian Development Bank, Mediamax reports.

The CIS economies managed to succeed in speeding up growth rates in 2011- this is the main conclusion of EDB specialists. According to initial data, in January-September 2011, the GDP growth in the region averaged to 4,5%. The highest rates of economic growth were observed in Turkmenistan (14,6%), the lowest in Azerbaijan (0,5%).

The average inflation index in the region, except for Belarus, fell  from 11,4% in June to 7,1% in November 2011. Armenia was most successful in deterring price growth: the annual growth of prices in August fell from 11,5% in March to 4,8% in November, the report says.

EBD analysts noted that the reserve assets of central banks of the region during first 6 months of 2011 were enriched with $37,9 billion. The most significant growth of monetary reserves was observed in Azerbaijan  (26,6% of GDP) and Kazakhstan (6,9% of GDP), whereas in Armenia (3,4% of GDP) the monetary reserves have, on the contrary, decreased.