IMF to release new macroeconomic outlook on Armenia in June

04.06.2013 13:54
IMF to release new macroeconomic outlook on Armenia in June

YEREVAN, June 4./ARKA/. The International Monetary Fund (IMF) will release its new outlook on Armenian macroeconomic situation in June, said Guillermo Tolosa, IMF Resident Representative in Armenia.

IMF will release its new report within the next two-three weeks and will present it at the Board of Directors meeting over the official end of the funding program, he added.

The report, according to him, will contain the outlook on the main macroeconomic figures.
Tolosa didn’t uncover the figures to be highlighted in the new report, noting “the last publication is still effective.”

The IMF said in its April World Economic Outlook report, Armenia will post a 4.5-percent GDP in 2013, and 4.1%- in 2014. Consumer price index in Armenia is to rise by 4.2% in 2013, and 4% in 2014, the negative balance will be 9.6% of GDP in 2013 and 8.2% -in 2014. According to the report, the unemployment rate will drop to 18.5% in 2013 and 18% -in 2014.

Tolosa noted IMF is optimistically set towards Armenia, however, the current situation doesn’t merely feed this optimism and it is necessary to “shift gears and speed up the pace” in the economic policy.

Armenia is heading forward through the path of deep changes, and that’s why we recommend to speed up the pace today, he clarified.

It doesn’t mean the IMF sees no progress in Armenia, though, according to him.

He pointed out it is just the right time for the authorities to concentrate on this issue, especially now, when the principal processes in the political field of Armenia remained behind.

Tolosa, who is finishing his mission in Armenia, said the IMF refers to Armenia as to a country which has already exited the list of low-income states, thus, the attitude to it has changed.

Armenia is shifting to the new stage and is seen as a new emerging market, where the bids grow and expectations expand, he believes.

The situation in the country is changing through several angles as Armenia is shifting from stabilization and restoration into the new spheres, he resumed.

GDP growth is anticipated at 6.2% in Armenia’s 2013 budget, inflation- 4% (±1.5%). According to the assessments of IMF, WB and EBRD, the GDP growth in Armenia will stand at 4.6%.—0-

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