Inflation in Armenia will be "around 5.5%" in 2022

PanARMENIAN.Net - Inflation in Armenia will be around 5.5% in 2022, Finance Minister Tigran Khachatryan told reporters on Monday, March 21, Aysor.am reports.

A deviation of up to 1.5% is possible, Khachatryan said. According to him, despite the temporary difficulties that exist today in the region and the world, the situation will be "manageable".

Fitch Ratings said earlier that the headwinds associated with the Ukraine conflict and sanctions on Russia "have caused us to revise down our growth projection for 2022 sharply to 1.3% (previously 5.3%), as export growth (particularly to Russia) stalls, and remittances (and hence household consumption) decline. We project growth will return to 4.2% in 2023 ('B' median: 3.6%), reflecting favourable domestic investment prospects and an expected positive contribution of net trade."