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World Bank Says Gas Price Hike Not To Affect Strongly Armenian Economy

Yerevan, March 15, Armenpress; A World Bank representative said today in Yerevan the Bank will unveil its study on possible repercussions of Russia’s decision to double the price of natural gas it sells to Armenia in a week.

Rodger Robinson, World Bank resident representative, told a news conference that according to preliminary estimations, the gas price hike will affect Armenia’s economy, but the scale of that negative impact will not be “too big”. Robinson said the higher price of gas will affect current electricity tariffs, but declined to elaborate saying it would be more appropriate to speak about hike’s aftereffects only after completing the Bank’s study. But he said the Central Bank of Armenia’s goal to ensure a three percent inflation was realistic.

Robinson said his forecast was based on the fact that despite ongoing rise of fuel price at world markets it has had no negative impact on Armenian economy which has been reporting a two-digit economic growth for several consecutive years.

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