People’s income grow, price rise is low: Central Bank chairman

The 12-month price increase in Armenia will be in the limits of 3%, chairman of the Central Bank Artur Javadyan said at the National Assembly today.

The official said that the rise in price in Armenia is low and it is result of influence of different factors.

“Currently we have seasonal decline. As of now we have not registered reduction of consumption volume but the tempo of growth of consumption volume,” he said.

Asked whether people’s income grow too, Javadyan said, “Of course, people’s income grow too. The National Statistical Service has published a report about it. The growth of the volume of loans testify it. We are making assessments over loaning and will publish the data very soon,” Javadyan said.

As to the comment the claims of specialists that without price growth the economy will not develop, CB chairman said, “They mean other price growth, we have such rise in price. But price growth is a terrible decease which hits maily needy clusters of the population. Fighting against high price growth demands big efforts.”