Republic of Armenia: First Review Under the Stand-By Arrangement and Request for Modifications of Performance Criteria and Monetary Policy Consultation Clause-Press Release; Staff Report

June 13, 2023

Preview Citation

Format: Chicago

Republic of Armenia: First Review Under the Stand-By Arrangement and Request for Modifications of Performance Criteria and Monetary Policy Consultation Clause-Press Release; Staff Report, (USA: International Monetary Fund, 2023) accessed December 21, 2024

Summary

The Stand-By Arrangement (SBA) is off to a good start, and the economic outlook is generally positive. Real GDP growth reached 12.6 percent in 2022, driven by robust consumption and a surge in inflow of income, capital, business, and labor. Growth is expected to decelerate but remain robust in 2023. Headline inflation fell to 3.2 percent (year-on-year) in April, including due to base effects, lower food inflation, dram appreciation, and monetary policy tightening. Risks to the outlook are elevated, requiring the continuation of strong policies to build resilience further.

Subject: External debt, Fiscal policy, International organization, Monetary policy, Public debt, Public financial management (PFM), Revenue administration

Keywords: Addressing inflation, End-December inflation, Global, Headline inflation, Middle East and Central Asia, Monetary policy tightening, Revenue mobilization effort, Transparency policy

Publication Details

Pages:

60
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/205
Stock No:

1ARMEA2023002
ISBN:

9798400245268
ISSN:

1934-7685

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