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Grisha Balasanyan

Utility Hikes, Hail Damage, Will Lead to Additional 2.5% Inflation

Armenia’s Central Bank President Artour Djavardyan took the podium today in the National Assembly and declared that inflation would rise another 2.5% due to pending gas and electric rate hikes and the recent spate of hailstorm crop damage.

“This will come as a new shock to the financial credit policy and we will be forced to review our inflationary estimates,” Djavardyan said.