ARKA News Agency, Armenia
April 28 2006

IMF SATISFIED WITH ARMENIA’S BASIC MACROECONOMIC INDICATORS

YEREVAN, April 28. /ARKA/. The IMF is satisfied with Armenia’s basic
macroeconomic indicators, the IMF permanent representative in Armenia
James McHugh stated during the presentation of the book “Growth and
Reduction of Poverty in Armenia. Achievements and Challenges”.
“Last time the IMF council discussed Armenia’s macroeconomic
indicators in December and gave positive evaluations, stating that
the country carries out a rather circumspect tax and budget policy
and system reforms,” he said. According to him, the IMF expects high
rates of economic growth in 2006 as well.
He pointed out that rather high economic indicators were recorded in
Armenia over the last two years. In particular, the economic growth
amounted to 13.9% in 2005 versus 6% in 2000, the inflation was left
below 3%, the budget was well-consolidated, and foreign debt factors,
testifying to foreign vulnerability considerably decreased.
McHugh said that the deficit of the account current, which is now 5%
of GDP, was considerably reduced. R.O. –0–