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Greece may quit eurozone, while Armenia considers reinforcing
macroeconomic stability
International agencies hailed Armenian government's efforts to
coordinate monetary-credit and tax and budgetary policy.
International institutions, in particular, the International Monetary
Fund (IMF) are optimistic about economic growth worldwide, given the
efforts of European states to tackle the debt crisis and increased
rates of economic growth in U.S. Commenting on report on `Perspectives
of global economy development', IMF Economic Counsellor and Director
of Research Department Olivier Blanchard said that the international
economy has faced ups and downs over the past six months and now sees
comparative stability.
May 20, 2012
PanARMENIAN.Net - According to the report, 3.5% global economic growth
is expected in 2012, and the figure will be somewhat higher next year.
IMF forecasts again predict better growth indicators for developing
countries as compared to the developed ones. The U.S. economy will
have a 2.1% growth in 2012; Europe's GDP will see a 0.3% decline while
China will record over 8% growth.
Armenia also claims stabilization in economy; leading international
agencies highly assessed the governmental moves aimed at coordination
of monetary-credit and tax and budgetary policy, as well as Armenia's
2011 macroeconomic indices.
Speaking at the government session on May 17, Armenian Prime Minister
Tigran Sargsyan highlighted cooperation with IMF, which `saw no
problems, and IMF approved in May the program negotiated upon'.
Furthermore, the credit rating company Moody's providing for
favourable conditions for further economic growth in Armenia, was also
positive in its assessment. The victory of the ruling coalition at May
6 parliamentary election is credit positive as it `will ensure a
degree of political stability and policy continuity,' the agency said.
Hence, the country will further be consistent in strengthening its
macroeconomic stability.
Meanwhile, the European officials openly speak about possible
withdrawal of Greece from Eurozone. Experts of the European Commission
and European Central Bank are already developing a scenario for
emergency moves in case Greece quits the Eurozone.
The first official confirmation came saying the European lawmakers are
drafting a plan to alleviate consequences of Greek withdrawal from the
monetary bloc.
Furthermore, at G8 summit ongoing in Camp David on May 18-19, U.S.
president Barack Obama called on G8 member-states to focus on boosting
and accelerating the economic growth in Europe.
Victoria Araratyan / PanARMENIAN News
macroeconomic stability
International agencies hailed Armenian government's efforts to
coordinate monetary-credit and tax and budgetary policy.
International institutions, in particular, the International Monetary
Fund (IMF) are optimistic about economic growth worldwide, given the
efforts of European states to tackle the debt crisis and increased
rates of economic growth in U.S. Commenting on report on `Perspectives
of global economy development', IMF Economic Counsellor and Director
of Research Department Olivier Blanchard said that the international
economy has faced ups and downs over the past six months and now sees
comparative stability.
May 20, 2012
PanARMENIAN.Net - According to the report, 3.5% global economic growth
is expected in 2012, and the figure will be somewhat higher next year.
IMF forecasts again predict better growth indicators for developing
countries as compared to the developed ones. The U.S. economy will
have a 2.1% growth in 2012; Europe's GDP will see a 0.3% decline while
China will record over 8% growth.
Armenia also claims stabilization in economy; leading international
agencies highly assessed the governmental moves aimed at coordination
of monetary-credit and tax and budgetary policy, as well as Armenia's
2011 macroeconomic indices.
Speaking at the government session on May 17, Armenian Prime Minister
Tigran Sargsyan highlighted cooperation with IMF, which `saw no
problems, and IMF approved in May the program negotiated upon'.
Furthermore, the credit rating company Moody's providing for
favourable conditions for further economic growth in Armenia, was also
positive in its assessment. The victory of the ruling coalition at May
6 parliamentary election is credit positive as it `will ensure a
degree of political stability and policy continuity,' the agency said.
Hence, the country will further be consistent in strengthening its
macroeconomic stability.
Meanwhile, the European officials openly speak about possible
withdrawal of Greece from Eurozone. Experts of the European Commission
and European Central Bank are already developing a scenario for
emergency moves in case Greece quits the Eurozone.
The first official confirmation came saying the European lawmakers are
drafting a plan to alleviate consequences of Greek withdrawal from the
monetary bloc.
Furthermore, at G8 summit ongoing in Camp David on May 18-19, U.S.
president Barack Obama called on G8 member-states to focus on boosting
and accelerating the economic growth in Europe.
Victoria Araratyan / PanARMENIAN News