Republic of Armenia: Poverty Reduction Strategy Paper: Progress Report
IMF Staff Country Reports, July 20, 2011
Source details
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- Republic of Armenia: Poverty Reduction Strategy Paper: Progress Report
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Bibliographic details
- Published: July 20, 2011
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781462344604.002
Summary
- The main drivers of economic growth in Armenia were the construction and service sectors.
- The global economic crisis resulted in a substantial change in the structure of the economy.
- The drastic decline in the volume of foreign financing prejudiced the continuation of rapid economic growth in the medium term.
- The crisis pointed to the need for incentives for exports and diversification, as well as encouraging of high-quality job openings and high levels of productivity.
- Reforms are needed in the key sectors of agriculture and infrastructure.
Key findings and themes
- Economic structure:
- Construction and service sectors identified as the main growth drivers.
- Substantial structural change occurred due to the global economic crisis.
- External financing and growth prospects:
- A drastic decline in the volume of foreign financing undermined prospects for continued rapid medium-term growth.
- Labor market and productivity:
- Need to encourage high-quality job openings and high levels of productivity.
- Sectoral reform priorities:
- Reforms needed in agriculture.
- Reforms needed in infrastructure.
- Policy imperatives:
- Need for incentives for exports.
- Need for economic diversification.
Policy recommendations and implications
- Implement incentives to boost exports.
- Promote economic diversification to reduce vulnerability to external shocks.
- Encourage creation of high-quality jobs to improve labor market outcomes.
- Pursue productivity-enhancing policies across sectors.
- Undertake targeted reforms in agriculture and infrastructure to support sustained growth and poverty reduction.
Key statistics and publication metadata
- Pages: 65
- Volume: 2011
- Issue: 191
- Series: Country Report No. 2011/191
- ISBN: 9781462344604
- ISSN: 1934-7685
- DOI: https://doi.org/10.5089/9781462344604.002
- Publication date shown on page: July 20, 2011
International Monetary Fund. "Republic of Armenia: Poverty Reduction Strategy Paper: Progress Report", IMF Staff Country Reports 2011, 191 (2011), accessed 9/22/2026, https://doi.org/10.5089/9781462344604.002
Content in this bundle
- _cr11191 — Progress Report on Implementation of the Sustainable Development Program