Time in Yerevan: 11:07:36,   12 August 2022

PM considers high inflation rate concerning

PM considers high inflation rate concerning

YEREVAN, JUNE 30, ARMENPRESS. Armenia’s economic activity index in May comprised 13% compared to the same month of the previous year, Prime Minister Nikol Pashinyan said at the Cabinet meeting today, presenting the data of the Statistical Committee.

He said that the main locomotives of the growth are the construction sector, the increase of which comprised 18.1% in May, and the services field, the increase of which comprised 30.2%, as well as the electricity production with an increase of 8.2% and the export growth which increased by 33.7% this May compared to last May.

“But, in line with good indicators, there is also a figure that creates concern, particularly the industrial production volume increased by just 2%, and also high inflationary environment is maintained which is concerning, but with the figures of five months we have entered a double-digit economic growth zone”, the PM said, adding that the plan envisaged for the first half of the year has been overperformed by 47 billion drams.

“We still have more than 10 billion EAEU customs allocations to receive”, he said.



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