Page 20 - Caucasus Outlook 2024
P. 20
increased by 6%, reaching $69.5 million.
In addition, imports from China grew by 45% to $818 million, imports from the USA by 2.4 times to $749.4 million, imports from Iran by 5% to $496.6 million and imports from the Republic of Korea by 2.5 times to $78.6 million.
2.2.3 Inflation and monetary policy
In 2023, average inflation in Armenia is anticipated to be at the level of 4.6%, as stated in the Macroeconomic Forecast: 2023 publication by the Eurasian Development Bank (EDB).
By the end of 2024, inflation in Armenia is projected to be 3.3 per cent.
The EDB noted that inflation will remain higher than the target guidelines of the central and national banks of the Eurasian nations. However, the Eurasian Development Bank added that these factors will gradually weaken, leading to a noticeable slowdown in inflation.
20 Central Asia & Caucasus Outlook 2021 www.intellinews.com
