Category Archives: Reports


  • To make available the quality education and training for all
  • To provide a forum for the exchange of ideas and independent research within and outside Armenia
  •  To engage government policy-makers and multilateral agencies insituation analyses and evaluations of current and near-term state economic policies and programs as input to decision-making
  • To provide policy and economic analysis on efficiency, efficacy, and equity issues relating to agriculture, food, environment, and other developmentinterventions

CEPREA “ALTERNATIVE” is an independent center for education and research in Armenia. The Center was founded by a team of young professionals, experts and opinion makers residing both in Armenia and throughout the world. Thanks to the devoted activities of the founders and associates of the institution significant academic forums have been realized since its founding in 1991, thereby developing a new culture of fruitful political discussion on major issues of national and global concern. Among the Center’s most prominent academic endeavors are: East-West Exchange Program in cooperation with York University in Toronto, Canada (1990), Symposium ¾ 91 on Economic Restructuring and Development of Armenia (1991, California, USA); Global Challenges and Regional Economic Strategies (1992, Kiev, Ukraine); Contemporary Issues of Sustainable Economic Growth (1998, Yerevan, Armenia); NATO after the Prague Summit (2003, Yerevan, Armenia); and others. The Center has contributed a long list of op-ed articles and analytical papers, and the first volume of Armenia 2020: Strategy for Security and Development, 2003.

CPI. English and Armenian

The Real Causes of Inflation and Perspectives for Overcoming Them

 Inflation cannot be ranked among possible threats to the economy. Under prevailing conditions, where currency is no longer backed by gold or other reserves and, in a certain sense, representing a state obligation, inflation could even be considered to spur the dynamic growth of the national economy within a range of 5-6 annual percentage points.