Republic of Armenia: Fourth Reviews Under the Extended Fund Facility and Extended Credit Facility: Staff Report; Informational Annex; Press Release on the Executive Board Discussion.

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International Monetary Fund, Jun 26, 2012 - Business & Economics - 65 pages
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This paper discusses findings of the Fourth Review of Armenia’s economic performance under a program supported by Extended Fund Facility and Extended Credit Facility Arrangements. Adherence to the policies agreed under the IMF-supported program has played an important role in helping Armenia restore solid growth. The 2011 fiscal deficit was well below program targets, reflecting restrained spending. The deficit is likely to be moderately higher in 2012, but still in line with the program, and with higher expected revenues allowing for increases in priority spending.

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