The Chairman of the Central Bank of Armenia, Martin Galstyan, reported a current annual inflation rate of 0.6% and projected an increase to 2% by the end of this year, with a further rise toward the target level of 4% in 2025.
Speaking at the National Assembly on November 12 during discussions on the 2025 state budget, the Central Bank head noted that the current inflation rate is significantly below the legislatively established target of 4% (+/-1.5%).
“We anticipate a slight increase in the inflation rate to around 2% by year-end, with a further rise to approximately 4% next year, which we view as the result of prudent policy,” stated Galstyan.
The Central Bank chairman recalled that Armenia had experienced elevated inflation in previous years due to the impact of the coronavirus pandemic, an influx of relocated individuals, and external demand. However, inflation has remained low over the past two years. Galstyan emphasized that the Central Bank’s primary goal is to maintain the population's purchasing power.
According to the Central Bank head, economic conditions are influenced by geopolitical factors, and vice versa. In this context, he assessed the Central Bank's policies as balanced and sound.
