Armenia: Technical Assistance Report-Upgrading Fiscal Rules

Armenia: Technical Assistance Report-Upgrading Fiscal Rules
ISBN-10
1484325583
ISBN-13
9781484325582
Series
Armenia
Category
Business & Economics
Pages
65
Language
English
Published
2017-11-10
Publisher
International Monetary Fund
Author
International Monetary Fund. Fiscal Affairs Dept.

Description

Armenia has made significant strides in enhancing macroeconomic stability over the past two decades. This has recently come under strain. Before a full recovery from the Global Financial Crisis (GFC) could take root, a second wave of external shocks, resulting from the slowdown in Russia and the ensuing sharp currency depreciation, buffeted the economy. Armenian public finances have deteriorated steadily since 2013, triggering the debt brake mechanism in 2016.

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