IMF Staff Country Reports

Armenia: Recent Economic Developments

Publication Date:

December 19, 1995

Summary:

This paper reviews economic developments in the Republic of Armenia during the 1990s. Real GDP declined by a cumulative 60 percent in 1992–93; price changes reached hyperinflation levels in late 1993; and real wages declined by nearly 50 percent in the course of that year. In the fall of 1994, the authorities formulated a comprehensive program of stabilization and structural reform that was supported in December 1994 by a first purchase under the Systemic Transformation Facility.

Series:

Country Report No. 1995/111

Subject:

Banking Currencies Current spending Expenditure Imports International trade Money Revenue administration

Notes:

This paper on recent economic developments was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. As such, the views expressed in this document are those of the staff team and do not necessarily reflect the views of the Government of the Republic of Armenia, or the Executive Board of the IMF.