Growth and Poverty Reduction in Armenia: Achievements and Challenges
IMF Special Issues, November 9, 2005
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- Growth and Poverty Reduction in Armenia: Achievements and Challenges
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Bibliographic details
- Authors: Christian H. Beddies, Enrique A Gelbard, James McHugh, Laure Redifer, Garbis Iradian
- Published: November 9, 2005
- Series: IMF Special Issues
- DOI: https://doi.org/10.5089/9781589064515.058
Overview and Key Outcomes
- Since 2000, real economic growth has averaged 11 percent a year.
- Annual inflation has averaged 3 percent.
- Poverty and inequality have fallen over the period.
- The country has outperformed other low-income countries, including other members of the Commonwealth of Independent States.
- The book assesses Armenia's economic transformation during the last 10 years and discusses the challenges to sustaining these successes.
Drivers of Growth and Poverty Reduction
- Prudent monetary and fiscal policies.
- Liberal trade and foreign exchange regimes.
- Rapid and relatively well-sequenced structural reforms.
- Support from the Armenian diaspora.
- Implementation of a poverty reduction strategy since 2002, which complemented the effect of economic growth on reducing poverty.
Contextual Constraints Highlighted
- Geographical location challenges.
- Closure of two critical borders.
- Occasional political turmoil.
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- Growth and Poverty Reduction in Armenia: Achievements and Challenges