Growth and Poverty Reduction in Armenia : Achievements and Challenges

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Growth and Poverty Reduction in Armenia : Achievements and Challenges
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Series:
IMF Special Issues
Author(s):
Christian Beddies, Enrique Gelbard, James McHugh, Laure Redifer, and Garbis Iradian
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
November 2005
DOI:
http://dx.doi.org/10.5089/9781589064515.058
ISBN:
9781589064515
Page:
112
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.
Chapter

CHAPTER 2. Growth and Poverty Reduction

Author(s):
Christian Beddies, Enrique Gelbard, James McHugh, Laure Redifer, and Garbis Iradian
Published Date:
November 2005
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