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Armenia - A window of opportunity to tackle challenging reforms (anglais)

The World Bank expects the Armenian economy to grow about 4 percent in 2017 with a modest but sustained recovery envisaged over the medium term. After stagnating in 2016, the economy showed renewed and greater-than-expected strength in the first half of 2017, which has continued into the third quarter but at a moderated pace. Higher gross domestic product (GDP), along with improvements in tax administration, have contributed to an improvement in tax collection, which has permitted some loosening of the earlier compression of capital expenditures. Having exceeded the fiscal rule’s lower debt-to-GDP threshold (50 percent), the deficit has been constrained to below 3 percent of GDP this year. This issue of the Armenia country economic update includes a special section on population, migration, and growth. It highlights the extent to which net out migration has driven Armenia’s population dynamics, how it may affect longer term growth, and the types of policies that can stem the outflow of Armenia’s best and brightest young people.


  • Auteur

    Chelsky,Jeffrey Allen, Manookian Salmasi,Armineh

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  • Type de document

    Document de travail

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  • Volume


  • Total Volume(s)


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  • Région

    Europe et Asie centrale,

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  • Titre du rapport

    Armenia - A window of opportunity to tackle challenging reforms

  • Mots clé

    increase consumer price;increase in interest rate;flexible exchange rate policy;real effective exchange rate;nominal effective exchange rate;majority party;higher level of education;number of international migrants;international organization for migration;remittance;current account deficit;high unemployment rate;current account balance;per capita income;import of goods;long term growth;expansion of export;foreign direct investment;drag on growth;economic reform program;private sector activity;social welfare system;Merger and Acquisitions;minimum capital requirement;standard of living;inflow of remittance;Capital Adequacy Ratio;stable exchange rate;labor force participation;world oil price;free trade zone;consumer price inflation;energy sector regulation;foreign private investment;global financial crisis;trade and investment;balance of payment;domestic economic conditions;private consumption growth;stock of emigrant;barrier to entry;rate of growth;export of gold;increase in remittance;gas and electricity;constraints to development;financed capital expenditure;natural resource use;tourism development strategy;exchange rate crisis;industry and trade;return on asset;international good practice;public debt law;decline in remittance;high poverty rate;investment climate;Population Growth;fiscal rule;rural area;tax collection;tourist arrival;budget deficit;Tax Code;Business Climate;international reserve;trade balance;food price;fiscal consolidation;current expenditure;fiscal development;state budget;armenian dram;regional disparity;competition policy;productivity growth;destination country;labor productivity;Exchange Rates;financial service;copper price;net export;skilled labor;aluminum foil;remittance flow;budget plan;Financial Sector;investor protection;construction sector;foreign financing;living standard;expenditure rule;home countries;marginal increase;average age;debt threshold;Labor Market;market condition;secondary city;employment opportunities;deposit dollarization;tax revenue;domestic financing;business venture;global recovery;capital spending;diaspora investment;poor household;middle class;debt sustainability;commercial loan;high-skilled migration;business environment;home country;work force;Economic Management;labor resource;subsistence farming;immigration law;employment opportunity;Health Service;economic recovery;dependency ratio;commercial bank;Social Protection;emigration motivation;dollar term;dutch disease;macroeconomic stabilization;reservation wage;budget provision;Real estate;inflation rate;temporary migrant;budget consolidation;business opportunity;state administration;tax policy;household income;return migration;financial dollarization;nominal wage;core inflation;fiscal account;high inflation;banking sector;tourism sector;population dynamic;removing barriers;fiscal balance;regulated service;export opportunities;primary income;domestic debt;export opportunity;metal price;regulatory standard;commodity export;open market;official reserve;biological resource;social indicator;association agreement;environmental tax;solid mineral;profit tax;excise tax;social spending;socio-economic development;minimum requirement;young people;program leader;administrative support;russian ruble;constitutional amendment;consumer loan;bank lending;deposit rate;parliamentary rule;high frequency;food product;retail trade;domestic demand;monetary policy;Public Services;participation rate;copper ore;Tax Administration;price movement;lending rate;deficit target;capital good;import growth;domestic bank;adequate housing;draft law;capital position;trading partner;comparator country;aluminium foil;high remittance;european tourists;fiscal situation;tax system;economic law;business interest;global commodity;Doing Business Reports;Business Regulation;anticompetitive behavior;consumer protection;business indicator;regulatory change;political dialogue;baseline scenario;light industry;investment incentive;address impediment;private fund;high penalty



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