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CISTran Finance
Jan 2 2015
IMF predicts economic challenges for Armenia, disburses $17 million
January 2, 2015 6:00 AM
By CISTran Finance Reports
The International Monetary Fund (IMF) recently released its first
review under extended arrangements with Armenia, which enables the
disbursement of $17 million.
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 macroeconomic 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.
The report and Armenian authorities said challenges in the country are
likely to continue, thus increasing the need for an economic policy to
lower deficits and create financial buffers, with decisive reform a
high priority.
http://cistranfinance.com/news/imf-predicts-economic-challenges-for-armenia-disburses-17-million/5831/
Jan 2 2015
IMF predicts economic challenges for Armenia, disburses $17 million
January 2, 2015 6:00 AM
By CISTran Finance Reports
The International Monetary Fund (IMF) recently released its first
review under extended arrangements with Armenia, which enables the
disbursement of $17 million.
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 macroeconomic 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.
The report and Armenian authorities said challenges in the country are
likely to continue, thus increasing the need for an economic policy to
lower deficits and create financial buffers, with decisive reform a
high priority.
http://cistranfinance.com/news/imf-predicts-economic-challenges-for-armenia-disburses-17-million/5831/