Overall inflation is manageable – Serzh Sargsyan

The prices of some products have increased in Armenia in connection with the increase in prices of these products in international markets, but the overall inflation is manageable, Armenian President Serzh Sargsyan said in an interview to ARMENIA TV.

“Yes, the prices of some products have increased in connection with the increase in prices of these products in international markets, but the overall inflation is manageable. If we take into account the fact that although everyone says salaries are not increased and etc, the rate of wage increase is a bit higher than the inflation as of today. I think this is a very important factor, the same was in 2016”, the President said.

Serzh Sargsyan also commented on the proposal of some opposition forces to suspend Armenia’s members to the Eurasian Economic Union (EAEU). He stated that he doesn’t see rationality here. Here he just sees a desire to serve some interests or a certain belief which comes from lacking complete information on the material.

“But if they are really convinced, they can present serious facts, I didn’t hear any serious fact”, he said.

Commenting on the reporter’s observation that prices of 900 goods may increase starting from January 1, 2018, the President said: “They cannot have a significant impact in terms of drastic inflations and undermining the economy. I do not suppose this, when we became a full member of the structure in 2015, the rates for several thousand product types changed, and so what? Did our country face a drastic inflation, of course, no, therefore, now as well the impact is not huge and this impact is also compensated via other products, at more affordable prices, and I think that we have a balanced approach here and this approach leads to the fact that for instance in 2016 there was a deflation in our country. This is a fact which cannot be denied and today as well we do not have a tangible inflation”.