Armenian Prime Minister: Law on inflation would be inadvisable

A law on wage, pension and allowance adjustment for inflation would entail inflation risks in the country, which might cause a collapse of the state’s macroeconomic system, Armenian Prime Minister Tigran Sargsyan stated in Parliament on March 17, commenting on a legislation initiated by the independent MP Victor Dallakyan.

According to him, such legislations are adopted in the countries with inflation exceeding 10%.

“But in countries like Armenia, with stable inflation, such a law would be inadvisable,” Sargsyan said.

He stressed that the Government is now trying to curb a price rise.

“It would be more advisable to curb inflation than adjust the population’s incomes for inflation, and the Government is doing it now,” the Premier said.

An inflation rate of 0.3% was registered in Armenia’s consumer market this February, and 2% this January-February.

An annual inflation rate of 6.5% was registered in the country last year. The Central Bank of Armenia forecast an annual inflation rate of 7-8 per cent for late April- early May.


/News.am/