Рейтинг@Mail.ru
ARKATELECOM
|
ARMBANKS
USD
391.57
EUR
426.77
RUB
4.6962
GEL
141.11
Wednesday, March 19, 2025
weather in
Yerevan
+8
NEWS » Economy » IMF says Armenia’s GDP expected to be below 4 percent in 2013
Economy

IMF says Armenia’s GDP expected to be below 4 percent in 2013

19.09.2013, 17:51
An International Monetary Fund (IMF) mission led by Mr. Mark Horton visited Yerevan during September 5–18 to conduct initial discussions on a possible new IMF arrangement with Armenia, the IMF said in a press release provided to ARKA. It said the mission met with Prime Minister Tigran Sargsyan, Minister of Finance  David Sargsyan, Central Bank Chairman Artur Javadyan, Minister of Economy Vahram  Avanesyan, Minister of Energy and Natural Resources Armen Movsisyan, Minister of  Transport and Communications Gagik Beglaryan, Minister-Chief of Staff of the Government  Vache Gabrielyan, and Chief Adviser to the President Aram Garibyan, as well as other  senior government officials, representatives of the international community, and the banking and business sectors.  At the conclusion of the visit, Mr. Horton issued the following statement:
IMF says Armenia’s GDP expected to be below 4 percent in 2013
YEREVAN, September 19. / ARKA /. An International Monetary Fund (IMF) mission led by Mr. Mark Horton visited Yerevan during September 5–18 to conduct initial discussions on a possible new IMF arrangement with Armenia, the IMF said in a press release provided to ARKA. It said the mission met with Prime Minister Tigran Sargsyan, Minister of Finance  David Sargsyan, Central Bank Chairman Artur Javadyan, Minister of Economy Vahram  Avanesyan, Minister of Energy and Natural Resources Armen Movsisyan, Minister of  Transport and Communications Gagik Beglaryan, Minister-Chief of Staff of the Government  Vache Gabrielyan, and Chief Adviser to the President Aram Garibyan, as well as other  senior government officials, representatives of the international community, and the banking and business sectors.  At the conclusion of the visit, Mr. Horton issued the following statement: 

“Discussions were productive and there was progress on policies and actions for the rest of 2013 and 2014–16. Further discussions are expected in Washington, DC, during the Annual Meetings of the IMF and the World Bank in October,’ the IMF said in a statement.

 “Activity is moderating in 2013, from the rapid pace of 2012 reflecting weaker external demand, including from regional economies, a tighter-than-expected fiscal position, and slower credit growth. The increase in gas and electricity prices in July is likely to slow activity. Growth is expected to be below 4 percent in 2013, but to rise gradually to 5 percent in the medium term, predicated on strong structural reforms, greater regional integration, and enhanced public, private, and foreign investment. Higher food and energy prices have driven inflation above the central bank’s (CBA’s) target band (4±1.5 percent). Inflation is likely to  remain elevated for the next few months, but return to the target range in 2014, reflecting  Armenia’s well-anchored inflationary expectations and the CBA’s recent increase of the policy rate,’ it said. -0-
Armenian parliamentary committee approves double taxation agreement with Hong Kong
The Parliamentary Committee on Economic Affairs gave a positive conclusion regarding the ratification of the agreement on the elimination of double taxation of income between Armenia and Hong Kong during a meeting on Wednesday.
19.03.2025 13:00
Armenia is ready to deepen trade and economic relations with EU in all areas – Minister
Armenia is ready to continue and deepen its trade and economic relations with the EU in all possible areas, said Economy Minister Gevorg Papoyan on March 18 during a meeting with Meglena Kuneva, a lecturer at the Diplomatic Academy of the European External Action Service, former chief negotiator and EU commissioner, and former Deputy Prime Minister of Bulgaria.
19.03.2025 09:49
Cadastre Committee to create passports for about 10,000 geographical names of Armenia
The Armenian Cadastre Committee will create 'passports' for about 10,000 geographical names and update the data in 2025, the head of the Committee Suren Tovmasyan said.
18.03.2025 18:14
"A busy year awaits us": Martin Galstyan on the impact of China's economy and trade wars on Armenia
The head of the Armenian Central Bank Martin Galstyan responded to a question whether the Stimulus Package, adopted by China and, in particular, the rise in copper prices, will affect Armenia's economy.
18.03.2025 17:56
Central Bank of Armenia left refinancing rate unchanged at 6.75%
At its meeting on March 18, the Board of the Central Bank of Armenia kept the refinancing rate unchanged at 6.75%.
18.03.2025 12:18
Armenia aims to connect itself with both EEU, EU, Arab, Asian and other markets by "numerous threads" - Papoyan
Armenia seeks to connect its economy with the Eurasian Economic Union (EEU) market as well as the EU, Arab, Asian and other markets with as many threads as possible, Minister of Economy Gevorg Papoyan said.
17.03.2025 17:16
S&P expects Armenia's economic growth to halve in three years
Over the next three years, growth in Georgia and Armenia will almost halve, from 9.4% and 8.8%, respectively, in 2022-24, but will remain sustainable, according to a commentary by S&P Global Ratings analysts, as reported by FrankMedia.
14.03.2025 10:26
Dynamics of the decline in exports and imports in Armenia will last throughout the first half of the year – EDB
The decline in the value of exports and imports in Armenia in January by 49.2% year-on-year (y/y) and 33.5% y/y, respectively, was due to the fact that the positive impact of foreign trade in precious metals had been exhausted.
13.03.2025 15:00