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Head of IMF in Armenia forecasts a 1.8 GDP growth by the end of 2010

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  • Head of IMF in Armenia forecasts a 1.8 GDP growth by the end of 2010

    Head of IMF Mission in Armenia forecasts a 1.8 GDP growth by the end of 2010
    09.04.2010 17:00

    Hasmik Dilanyan
    `Radiolur'

    International Monetary Fund (IMF) highly assesses the anti-crisis
    program of the Armenian government, Head of IMF Mission in Armenia
    Guillermo Tolosa told a press conference today. `If not the measures
    taken by the government, the Armenian economy would be in far worse
    situation today,' he said.

    Commenting on the statement of the Armenian Prime Minister on
    toughening control over reporting of large enterprises, Guillermo
    Tolosa noted that tax administration and collection of taxes have
    always been in the center of IMF attention.

    `Level of tax collection is low and we are ready to render assistance
    to increase these indices,' Head of IMF Mission in Armenia stated.

    Guillermo Tolosa also touched upon the external debt of Armenia,
    noting that it has significantly increased over the past year and will
    continue increasing. However, he expressed confidence that starting
    from 2010, the external debt of Armenia will start reducing.

    The Head of IMF Mission forecasted a 1.8% growth and 6.2% inflation
    rate by the end of the year.
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