Armenian PM Nikol Pashinyan, at today’s government cabinet session, said that the country’s 7% inflation rate is worrying and that his administration is taking steps to curb it.

“Inflation, unfortunately, is a global problem,” Pashinyan said, adding that the 7% rate is more than originally estimated.

“If we manage to achieve our target of 7% economic growth, we hope to enter a stage of prosperity growth," he said.

Pashinyan said the 5.8% economic growth rate last year is greater than forecasted.