Growth and Poverty Reduction in Armenia: Achievements and Challenges

Business & Finance, Economics, International Economics, Macroeconomics
Cover of the book Growth and Poverty Reduction in Armenia: Achievements and Challenges by Christian Mr. Beddies, E. Mr. Gelbard, James Mr. McHugh, Laure Ms. Redifer, Garbis Mr. Iradian, INTERNATIONAL MONETARY FUND
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Author: Christian Mr. Beddies, E. Mr. Gelbard, James Mr. McHugh, Laure Ms. Redifer, Garbis Mr. Iradian ISBN: 9781452740256
Publisher: INTERNATIONAL MONETARY FUND Publication: November 9, 2005
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: Christian Mr. Beddies, E. Mr. Gelbard, James Mr. McHugh, Laure Ms. Redifer, Garbis Mr. Iradian
ISBN: 9781452740256
Publisher: INTERNATIONAL MONETARY FUND
Publication: November 9, 2005
Imprint: INTERNATIONAL MONETARY FUND
Language: English
Since 2000, Armenia's economic performance has been remarkable. Real economic growth has averaged 11 percent a year, annual inflation has averaged 3 percent, and poverty and inequality have fallen. The country has outperformed other low-income countries including other members of the Commonwealth of Independent States. This is particularly impressive given the geographical location of Armenia, the closure of two critical borders, and occasional political turmoil. The key factors behind Armenia's economic performance are prudent monetary and fiscal policies, liberal trade and foreign exchange regimes, rapid and relaively well-sequenced structural reforms, and support from the Armenian diaspora. In addition, the implementation of a poverty reduction strategy since 2002 has complemented the effect of economic growth on reducing poverty. This book assesses the country's economic transformation during the last 10 years and discusses the challenges to sustaining these successes.
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Since 2000, Armenia's economic performance has been remarkable. Real economic growth has averaged 11 percent a year, annual inflation has averaged 3 percent, and poverty and inequality have fallen. The country has outperformed other low-income countries including other members of the Commonwealth of Independent States. This is particularly impressive given the geographical location of Armenia, the closure of two critical borders, and occasional political turmoil. The key factors behind Armenia's economic performance are prudent monetary and fiscal policies, liberal trade and foreign exchange regimes, rapid and relaively well-sequenced structural reforms, and support from the Armenian diaspora. In addition, the implementation of a poverty reduction strategy since 2002 has complemented the effect of economic growth on reducing poverty. This book assesses the country's economic transformation during the last 10 years and discusses the challenges to sustaining these successes.

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