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IMF predicts new challenges for Armenia's economy

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  • IMF predicts new challenges for Armenia's economy

    IMF predicts new challenges for Armenia's economy

    22:05 * 02.01.15


    The International Monetary Fund (IMF) recently released its first
    review under extended arrangements with Armenia, which enables the
    disbursement of $17 million, Cistran Finance reports.

    The report said Armenia saw steady growth between 2010 and 2012, with
    growth slowing in 2013 and 2014. The growth rate is expected to be 2.6
    percent in 2014, with only a gradual increase predicted for 2015.

    Inflation fell below the Central Bank of Armenia's (CBA) ideal range,
    but it is expected to rise again as depreciation of the dram will
    likely drive import prices up. Also, the further depreciation of the
    Russian ruble affected the regional economic landscape at the
    beginning of the year and again in November.

    The IMF recommends that decisive action be taken by the government to
    reform macro-economic conditions and boost growth. Part of this would
    likely come from the creation of a financial space that would
    encourage social spending and investments over the medium term.


    http://www.tert.am/en/news/2015/01/02/imf-armenia/1551867

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