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We had unprecedented high inflation in 2010, while in 2011 we managed to restrain inflation to some extent, mainly through flexible instruments of monetary and credit policy, economist, head of the Alternative Research Center Tatul Manaseryan told a Panorama.am reporter.

Nevertheless, according to him, measures implemented by CBA are not sufficient to restrain inflation, with phenomena boosting inflation existing in Armenia.

Manaseryan particularly stressed existence of oligarchies in the agricultural goods market.

In 2012 the inflation rate will be conditioned by two circumstances, said the expert. First, global market trends, where food prices are expected to rise. However, the economist said, in order to restrain inflation, we must boost production of 10 first-necessity goods in Armenia.

Armenia’s economy will face serious challenges in 2012, so we must do our best to keep the positive things we achieved in our economy in past years and to make them regular, Manaseryan stressed.

“If we keep the current economic growth rate and take all necessary measures, we can expect serious results after 2013,” he said.