Head of IMF Mission in Armenia forecasts a 1.8 GDP growth by the end of 2010
09.04.2010 17:00

Hasmik Dilanyan
`Radiolur’

International Monetary Fund (IMF) highly assesses the anti-crisis
program of the Armenian government, Head of IMF Mission in Armenia
Guillermo Tolosa told a press conference today. `If not the measures
taken by the government, the Armenian economy would be in far worse
situation today,’ he said.

Commenting on the statement of the Armenian Prime Minister on
toughening control over reporting of large enterprises, Guillermo
Tolosa noted that tax administration and collection of taxes have
always been in the center of IMF attention.

`Level of tax collection is low and we are ready to render assistance
to increase these indices,’ Head of IMF Mission in Armenia stated.

Guillermo Tolosa also touched upon the external debt of Armenia,
noting that it has significantly increased over the past year and will
continue increasing. However, he expressed confidence that starting
from 2010, the external debt of Armenia will start reducing.

The Head of IMF Mission forecasted a 1.8% growth and 6.2% inflation
rate by the end of the year.