Armenian Economy Minister Tigran Davtyan forecasted economic growth in Armenia as planned by budget or higher, however, refrained from naming specific figures.

As the Minister noted during a June 24 news conference in Yerevan, inflation slump is expected by the end of the year, adding that the Armenian government is not the only to support the forecast.

A 9,9% growth in economic activity index in Armenia in May 2011 was reported as compared to the same period in 2010. According to the National Statistical Service, the economic activity growth was 13,7% higher in May compared to April 2011. Inflation in May was 9% compared to the same period in 2011. Consumer prices remain unchanged.

The national budget envisages 4,6% GDP growth and 4% (±1,5%) inflation for 2011.