Inflation to go up to 7-10% by December, former prime minister predicts

Inflation in Armenia will make 7-10% by the end of the current year, according to Armenia's former Prime Minister Hrant Bagratyan.

"The 4% predicted by the government is unrealistic," he told journalists on Tuesday.

At that, he noted that hypercentralised production affects price growth.

"We have information that there are currently disputes over monopolizing the imports market," Mr. Bagratyan said, adding that the current increase in cheese price could have been caused by high prices on cheese powder in the global market.

Speaking about the Armenia's economic situation, the former premier said that no economic growth was observed in the country.

"We haven't yet managed to recover the 2007 economic indices. There is very little growth compared to last year's 22% downfall," he mentioned.

In addition, Mr. Bagratyan said he predicted no economic growth by the end of 2010.