Armenia Economic Update, Spring 2015

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dc.creatorWorld Bank Group
dc.date2015-06-25T19:01:50Z
dc.date2015-06-25T19:01:50Z
dc.date2015-04
dc.date.accessioned2026-07-01T00:48:30Z
dc.descriptionArmenias economic growth remained resilient in 2014. Output expansion slowed to 3.4 percent in 2014, relative to 3.5 percent in the previous year. On the supply side, while services particularly transport and telecoms), agriculture, and manufacturing performed well, construction, mining, and energy made negative contributions to output growth. On the demand side, net exports were the main contributor to growth, offsetting weak private consumption and negative private investment. However, by the last quarter, Russias economic slowdown and the steep depreciation of the ruble began to depress remittances, FDI inflows, and exports. Few jobs were created during the year, and the unemployment rate reached to 17.6 percent in 2014. A weak labor market, combined with slower emigration and return migration from Russia, are likely to have undermined growth in the incomes of the poor. Declining remittances and higher inflation in the last few months of 2014 reinforced these trends. Poverty at US$2.5/day was 30.2 percent in 2014, still above the levels recorded in the period leading up to the 2008 financial crisis. Fiscal policy continued to be prudent throughout the year, and monetary tightening responded to the currency depreciation. Developments in Russia will adversely affect economic growth in 2015, underscoring the needfor Armenia to press ahead with structural reforms.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2015/06/24575089/armenia-economic-update-accelerating-reforms-increased-uncertainty
dc.identifierhttps://hdl.handle.net/10986/22072
dc.identifierhttps://doi.org/10.1596/22072
dc.identifier.urihttp://hdl.handle.net/123456789/411314
dc.languageEnglish
dc.languageen_US
dc.publisherWorld Bank, Washington, DC
dc.relationArmenia economic update,no.1;
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.rightsWorld Bank
dc.subjectCURRENCY MISMATCHES
dc.subjectTARIFFS
dc.subjectGROWTH RATES
dc.subjectMONETARY POLICY
dc.subjectDEFICIT
dc.subjectRISKS
dc.subjectHOLDING
dc.subjectBASIS POINTS
dc.subjectOIL PRICE
dc.subjectNPL
dc.subjectECONOMIC GROWTH
dc.subjectDEPOSITS
dc.subjectFREE TRADE AGREEMENT
dc.subjectINFORMATION TECHNOLOGY
dc.subjectMACROECONOMIC MANAGEMENT
dc.subjectINTEREST
dc.subjectDEPRECIATION
dc.subjectIMPORT
dc.subjectGOVERNMENT SPENDING
dc.subjectIMPORT TARIFF
dc.subjectSLACK
dc.subjectREMITTANCE
dc.subjectEXCHANGE
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectBALANCE OF PAYMENTS
dc.subjectCONSUMER GOODS
dc.subjectMARKET PRESSURES
dc.subjectLABOR FORCE
dc.subjectTAX COLLECTION
dc.subjectREVENUES
dc.subjectFISCAL POLICY
dc.subjectWELFARE
dc.subjectRENEGOTIATION
dc.subjectBORROWERS
dc.subjectSLOWDOWN
dc.subjectTAX
dc.subjectCONSUMPTION GROWTH
dc.subjectBOND YIELDS
dc.subjectEXTERNAL TRADE
dc.subjectINFLATION
dc.subjectSUPPLY SIDE
dc.subjectBILLS
dc.subjectSAFETY NETS
dc.subjectTRADE AGREEMENTS
dc.subjectBUDGET
dc.subjectCENTRAL BANK
dc.subjectMATURITY
dc.subjectCUSTOMS DUTIES
dc.subjectEFFECTIVE EXCHANGE RATE
dc.subjectLABOR MARKET
dc.subjectTRADE BALANCE
dc.subjectECONOMIC SLOWDOWN
dc.subjectCURRENCY
dc.subjectEXPORT GROWTH
dc.subjectPOLICY RESPONSES
dc.subjectCURRENT ACCOUNT
dc.subjectINCOME GROWTH
dc.subjectINFLATIONARY PRESSURES
dc.subjectIMPORT DEMAND
dc.subjectTRADING
dc.subjectMONETARY FUND
dc.subjectMARKETS
dc.subjectDEBT
dc.subjectPRIVATE INVESTMENT
dc.subjectRETURN
dc.subjectBUDGET DEFICIT
dc.subjectSTRUCTURAL REFORMS
dc.subjectIMPORTS
dc.subjectTRADE POLICY
dc.subjectDIRECT INVESTMENT
dc.subjectLOANS
dc.subjectRESERVES
dc.subjectTRADE AGREEMENT
dc.subjectDEBT SERVICE
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectFINANCE
dc.subjectTAXES
dc.subjectBANKING SECTOR
dc.subjectFISCAL DEFICIT
dc.subjectEXPENDITURE
dc.subjectGOVERNMENT SECURITIES
dc.subjectEQUITY
dc.subjectINVESTORS
dc.subjectCONSUMPTION
dc.subjectINTEREST PAYMENTS
dc.subjectGOOD
dc.subjectEXTERNAL DEMAND
dc.subjectINTERNATIONAL RESERVES
dc.subjectBUFFER
dc.subjectUNEMPLOYMENT RATE
dc.subjectFINANCIAL CRISIS
dc.subjectCOMPETITIVENESS
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectTREASURY BILLS
dc.subjectTRADE DEFICIT
dc.subjectFOREIGN INVESTMENT
dc.subjectDEMAND
dc.subjectBALANCE OF PAYMENTS DEVELOPMENTS
dc.subjectSAFETY NET
dc.subjectAGGREGATE DEMAND
dc.subjectECONOMY
dc.subjectEXPENDITURES
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectCURRENCY MARKETS
dc.subjectSHARES
dc.subjectREAL EXCHANGE RATE
dc.subjectCOUPON RATE
dc.subjectMARKET
dc.subjectFOREIGN EXCHANGE
dc.subjectSECURITIES
dc.subjectPUBLIC DEBT
dc.subjectTREASURY
dc.subjectDOMESTIC DEMAND
dc.subjectBILL
dc.subjectCORE INFLATION
dc.subjectINTERESTS
dc.subjectTAX CODE
dc.subjectCURRENCY DEPRECIATION
dc.subjectGOODS
dc.subjectMONETARY CONDITIONS
dc.subjectGROWTH RATE
dc.subjectINVESTMENT
dc.subjectBOND
dc.subjectEUROBOND
dc.subjectSHORTFALLS
dc.subjectCOMMERCIAL BANKS
dc.subjectSHARE
dc.subjectINVESTMENT CLIMATE
dc.subjectPOVERTY
dc.subjectTARIFF
dc.subjectSUPPLY
dc.subjectGLOBAL DEMAND
dc.subjectCOUPON
dc.subjectUNCERTAINTY
dc.subjectREVENUE
dc.subjectPRIVATE INVESTMENTS
dc.subjectACCOUNT DEFICIT
dc.subjectPRIVATE CONSUMPTION
dc.subjectEXTERNAL DEBT
dc.subjectINVESTMENTS
dc.subjectCONSUMER PRICE INDEX
dc.subjectEXCHANGE RATE
dc.subjectDEBT SERVICING
dc.subjectREAL EFFECTIVE EXCHANGE RATE
dc.subjectFOOD PRICES
dc.subjectREMITTANCES
dc.subjectPUBLIC SPENDING
dc.subjectCAPITAL INVESTMENT
dc.subjectPRICE INDEX
dc.subjectTRADING PARTNERS
dc.subjectWEIGHTS
dc.subjectTRADE REGIME
dc.subjectNONPERFORMING LOANS
dc.subjectDOLLAR VALUE
dc.subjectCONSOLIDATION
dc.subjectHUMAN DEVELOPMENT
dc.subjectDEBT MATURITY
dc.titleArmenia Economic Update, Spring 2015
dc.titleAccelerating Reforms, Increased Uncertainty
dc.typeReport
dc.typeRapport
dc.typeInforme

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