Republic of Armenia: Fifth Review Under the Poverty Reduction and Growth Facility and Request for Extension of the Arrangement
May 14, 2004
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This paper examines Armenia’s Fifth Review Under the Poverty Reduction and Growth Facility (PRGF) and Request for Extension of the Arrangement. Performance under the PRGF-supported program since mid-2003 has been satisfactory: the authorities met all quantitative targets and implemented most of the envisaged structural measures. Tax revenue collection was somewhat disappointing in 2003, although it has improved in early 2004. Future growth in Armenia will increasingly depend on the ability of the banking system to mobilize and allocate domestic savings.
Subject: Banking, Economic sectors, Energy sector, Expenditure, External debt, Poverty, Poverty reduction strategy, Revenue administration
Keywords: Armenia's PRGF arrangement, CR, Energy sector, Global, ISCR, net credit, Poverty reduction strategy, PRGF loan, priority expenditure, rate of inflation, rate of inflation in April, staff appraisal
Pages:
71
Volume:
2004
DOI:
Issue:
136
Series:
Country Report No. 2004/136
Stock No:
1ARMEA0012004
ISBN:
9781451801477
ISSN:
1934-7685
