## Republic of Armenia: Selected Issues

_IMF Staff Country Reports, December 22, 2008_

## Source details

**Canonical URL:** [Republic of Armenia: Selected Issues](https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-armenia-selected-issues-22552)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/republic-of-armenia-selected-issues-22552/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/republic-of-armenia-selected-issues-22552/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/republic-of-armenia-selected-issues-22552/bundle-manifest.json)

## Bibliographic details
- Published: December 22, 2008
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451801699.002

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### Summary findings
- Building up fiscal space during economic expansions is crucial for the effective implementation of stimulatory policies during downturns.
- Armenia’s tax revenue remains one of the lowest in the region, and significantly below potential.
- Legislative changes introducing a VAT threshold and a simplified regime for those businesses below the threshold are promising steps.
- Adoption of a comprehensive and ambitious modernization plan for revamping tax administration is a promising step in the right direction.

### Policy recommendations and reforms highlighted
- Strengthen fiscal buffers during expansions to enable stimulatory policies during downturns.
- Implement and monitor the VAT threshold and the simplified regime for businesses below the threshold to widen the tax base while reducing compliance burdens.
- Pursue the comprehensive modernization plan to revamp tax administration and increase tax capacity.

### Subjects and analytical focus
- Exchange rates
- Expenditure
- Fiscal policy
- Fiscal stance
- Foreign exchange
- Foreign exchange intervention

### Keywords (as listed)
- Armenia
- Baltics
- CR
- equilibrium exchange rate
- exchange rate pass-through
- Exchange rates
- fiscal policy framework
- Fiscal stance
- Foreign exchange intervention
- foreign exchange market intervention
- Global
- government spending
- ISCR
- pass-through estimate
- policy objective
- shortsighted fiscal policies

*International Monetary Fund. "Republic of Armenia: Selected Issues", IMF Staff Country Reports 2008, 375 (2008), accessed 9/22/2026, https://doi.org/10.5089/9781451801699.002*

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## Content in this bundle

- **Republic of Armenia: Selected Issues; IMF Country Report 08/375; October 31, 2008.**
  - [Republic of Armenia: Selected Issues; IMF Country Report 08/375; October 31, 2008. (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2008/_cr08375.pdf.md){rel="alternate" type="text/markdown"}
  - [Republic of Armenia: Selected Issues; IMF Country Report 08/375; October 31, 2008. (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2008/_cr08375.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-armenia-selected-issues-22552_