World Bank (WB) forecasts 6% inflation and 12-14% decrease in Armenian Gross Domestic Product (GDP), Head of WB Yerevan Office Aristomene Varoudakis told journalists, August 31. Earlier, WB was forecasting 3% inflation and up to 9-11% decrease in GDP.

As of H1 2009, Armenian GDP will reduce by 18.5%. Varoudakis hailed the slowed recession as positive, namely according to him, July figures compared to June this year reported a 6% growth in Armenian industrial production.

According to WB Head, inflation rates are influenced by international prices for energy carriers and foreign currency fluctuations in Armenia.