Former Prime Minister of Armenia Hrant Bagratyan said that zero economic growth was recorded in Armenia in 2010, while the actual inflation makes 12-13% instead of the officially recorded 8.1% inflation.

2.5-5.5% inflation corridor envisaged under the 2011 budget is realistic, Bagratyan told a press conference.

“Prices for foodstuffs and staple items are much higher in Armenia compared to those in the global market. If it is announced in January that any company may import sugar, we will face deflation. The actual price for sugar makes AMD 210-220 per kilogram,” noted Bagratyan.

If such a decision is adopted, the GDP growth will make 12-20%, he said.