"A week ago, we believed that the inflation would be at the level of 17-18%, because we did not have a single prediction on the increase in tariffs. Now, according to the memorandum with the IMF, the increase in tariffs will be very sharp: by 280% for gas and by 66% for heat," she said.

"Therefore, a part of inflation will depend on the administrative regulated tariffs, which will add another 7-8% for the core inflation. That’s why, we are now considering the inflation rate of about 25-26% by the end of the year.”