Inflation in Armenia to increase significantly after joining EAU
Baku, Azerbaijan, Oct.23
After joining the EAU, inflation in Armenia may reach seven percent, Armenia Today said referring to the Haykakan Zhamanak newspaper.
"That is, if an annual average of 4-percent inflation is recorded in Armenia, we can have up to 7-percent inflation as a result of EAU accession," Haykakan Zhamanak said.
"In February of 2014, the Armenian Ministry of Economy had forecast that the impact of Armenia's Eurasian Economic Union (EAU) accession will reach 1.5 percent on the country's inflation, Haykakan Zhamanak daily said.
"But these calculations are obsolete. The list of [Armenia's] goods with temporary exemptions from customs duties has undergone substantial changes."
With the new estimates, the impact of EAU accession can reach up to 3 percent, per year on inflation, according the sources close to the Ministry of Economy.
A reaty on establishing the EAU was signed May 29, 2014 in Astana by the presidents of Russia, Belarus and Kazakhstan. The text includes about 700 pages.
Translated by EA
Edited by CN