Armenia : A Cloudy Outlook

dc.creatorWorld Bank
dc.date2015-01-05T21:27:46Z
dc.date2015-01-05T21:27:46Z
dc.date2014-10
dc.date.accessioned2026-07-01T00:54:17Z
dc.descriptionEconomic growth slowed to 3.5 percent in 2013 and 2.7 percent year-on-year in the first half of 2014. The slowdown is the result of a number of factors such as slackening foreign direct investment (FDI), dependence on a limited number of commodity exports, and a difficult external economic environment. Consumer lending and remittances continued to support private consumption, but under-execution of government spending suppressed aggregate demand. On the supply side, the mining and energy sectors performed particularly badly, offsetting positive developments in manufacturing. Year-on-year inflation reached close to zero in August 2014, following a long decline since energy price increases caused it to flare up in July 2013. Twelve-month inflation slowed to 0.8 percent in August, well below the central bank s 2.5 5.5 percent target range. The decline came despite new electricity price increases in the same month. On the whole, second-round price pressures were minimal. Core inflation, excluding prices for food and fuel, was being held below headline inflation in the second half of the year.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2014/01/21412799/armenia-cloudy-outlook
dc.identifierhttps://hdl.handle.net/10986/21084
dc.identifierhttps://doi.org/10.1596/21084
dc.identifier.urihttp://hdl.handle.net/123456789/412732
dc.languageEnglish
dc.languageen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectACCUMULATION OF RESERVES
dc.subjectAGGREGATE DEMAND
dc.subjectAGRICULTURAL COMMODITIES
dc.subjectAGRICULTURE
dc.subjectANNUAL GROWTH
dc.subjectBASIS POINT
dc.subjectBASIS POINTS
dc.subjectBENEFICIARIES
dc.subjectBONDS
dc.subjectBROKERAGE
dc.subjectBUFFERS
dc.subjectCAPACITY CONSTRAINTS
dc.subjectCAPITAL FLOWS
dc.subjectCAPITAL MARKETS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL DEPOSITORY
dc.subjectCOMMERCIAL BANK
dc.subjectCOMMERCIAL BANK LOAN
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMODITY PRICES
dc.subjectCOMPETITIVENESS
dc.subjectCONSOLIDATION
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONSUMPTION BASKET
dc.subjectCONSUMPTION BASKETS
dc.subjectCONSUMPTION GOODS
dc.subjectCONSUMPTION GROWTH
dc.subjectCONSUMPTION SPENDING
dc.subjectCORE INFLATION
dc.subjectCPI
dc.subjectCREDIT EXPANSION
dc.subjectCREDIT RATING
dc.subjectCURRENCY
dc.subjectCURRENCY MISMATCHES
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT BALANCE
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectCUSTOMS UNION
dc.subjectDEBT HOLDINGS
dc.subjectDEBT SERVICE
dc.subjectDEFICIT FINANCING
dc.subjectDEFLATION
dc.subjectDEPRECIATION
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT BANK
dc.subjectDEVELOPMENT POLICY
dc.subjectDEVELOPMENT STRATEGY
dc.subjectDISBURSEMENTS
dc.subjectDOMESTIC CAPACITY CONSTRAINTS
dc.subjectDOMESTIC DEBT
dc.subjectDOMESTIC DEMAND
dc.subjectDOMESTIC INVESTORS
dc.subjectDOMESTIC LIQUIDITY
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC DEVELOPMENTS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC POLICY
dc.subjectELASTICITY
dc.subjectEQUITY ISSUANCE
dc.subjectEUROBOND
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE POLICIES
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORT DIVERSIFICATION
dc.subjectEXPORT GROWTH
dc.subjectEXPORT MARKET
dc.subjectEXPORTERS
dc.subjectEXTERNAL DEBT
dc.subjectEXTERNAL DEMAND
dc.subjectEXTERNAL FINANCING
dc.subjectEXTERNAL SHOCKS
dc.subjectEXTREME POVERTY
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKETS
dc.subjectFISCAL BALANCE
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL EFFORTS
dc.subjectFISCAL POLICY
dc.subjectFIXED INVESTMENTS
dc.subjectFLEXIBLE EXCHANGE RATE
dc.subjectFOOD PRICE
dc.subjectFOOD PRICES
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE RESERVES
dc.subjectFOREIGN INVESTORS
dc.subjectFREE TRADE
dc.subjectFREE TRADE AGREEMENT
dc.subjectFREE TRADE AGREEMENTS
dc.subjectFUTURES
dc.subjectFUTURES MARKETS
dc.subjectGDP
dc.subjectGENERAL EQUILIBRIUM
dc.subjectGEOPOLITICAL TENSIONS
dc.subjectGLOBAL DEMAND
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBAL INTEREST
dc.subjectGLOBAL MARKETS
dc.subjectGOVERNMENT DEFICIT
dc.subjectGOVERNMENT GUARANTEES
dc.subjectGOVERNMENT SECURITIES
dc.subjectGOVERNMENT SPENDING
dc.subjectGRACE PERIOD
dc.subjectGRADUAL DEPRECIATION
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH RATES
dc.subjectHOLDING
dc.subjectHOLDINGS
dc.subjectHUMAN DEVELOPMENT
dc.subjectIMPORT
dc.subjectIMPORT COSTS
dc.subjectIMPORT GROWTH
dc.subjectIMPORT TARIFF
dc.subjectIMPORT TARIFFS
dc.subjectIMPORTS
dc.subjectINCOME
dc.subjectINCOME TAX
dc.subjectINFLATION
dc.subjectINFLATION TARGETING
dc.subjectINFLATION TARGETING REGIME
dc.subjectINFLATIONARY PRESSURE
dc.subjectINFLATIONARY PRESSURES
dc.subjectINTEREST PAYMENTS
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL RESERVES
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTMENT BANK
dc.subjectINVESTMENT OPPORTUNITIES
dc.subjectJUSTICE SYSTEMS
dc.subjectLABOR FORCE
dc.subjectLABOR MARKET
dc.subjectLABOR PRODUCTIVITY
dc.subjectLIBERALIZATION
dc.subjectLOAN PORTFOLIOS
dc.subjectLONG-TERM LOANS
dc.subjectLONG-TERM OBLIGATIONS
dc.subjectMACROECONOMIC ENVIRONMENT
dc.subjectMACROECONOMIC RISK
dc.subjectMARKET EFFICIENCIES
dc.subjectMARKET EFFICIENCY
dc.subjectMETALS
dc.subjectMINERAL PRICES
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICY
dc.subjectNATURAL RESOURCES
dc.subjectNET IMPORTS
dc.subjectNOMINAL EXCHANGE RATE
dc.subjectNOMINAL WAGES
dc.subjectNONPERFORMING LOANS
dc.subjectNPL
dc.subjectOIL
dc.subjectOIL PRICES
dc.subjectOPEN MARKET
dc.subjectOPEN MARKET OPERATIONS
dc.subjectOUTPUT GAP
dc.subjectPENSION
dc.subjectPENSION SYSTEM
dc.subjectPENSIONS
dc.subjectPOPULATION GROWTH
dc.subjectPOVERTY REDUCTION
dc.subjectPRICE DYNAMICS
dc.subjectPRICE HIKE
dc.subjectPRICE INCREASE
dc.subjectPRICE INCREASES
dc.subjectPRICE INDEXES
dc.subjectPRIVATE CONSUMPTION
dc.subjectPRIVATE DEBT
dc.subjectPRODUCTION TECHNOLOGY
dc.subjectPROFIT MARGIN
dc.subjectPUBLIC DEBT
dc.subjectREAL EXPORT
dc.subjectREAL EXPORT GROWTH
dc.subjectREAL GDP
dc.subjectREAL IMPORT
dc.subjectRECESSION
dc.subjectREGISTRATION FEES
dc.subjectREMITTANCE
dc.subjectREMITTANCES
dc.subjectREPAYMENT
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRETURNS
dc.subjectSHORT-TERM DEBT
dc.subjectSHORT-TERM EXTERNAL DEBT
dc.subjectSHORTFALL
dc.subjectSLOWDOWN
dc.subjectSLOWDOWNS
dc.subjectSTRUCTURAL REFORMS
dc.subjectSTRUCTURAL UNEMPLOYMENT
dc.subjectSUPPLY SIDE
dc.subjectSURPLUS
dc.subjectTARGET RANGE
dc.subjectTARIFF INCREASE
dc.subjectTARIFF INCREASES
dc.subjectTARIFF POLICY
dc.subjectTAX CREDITS
dc.subjectTAX EXEMPTIONS
dc.subjectTAX INCREASE
dc.subjectTAX RATE
dc.subjectTELECOMMUNICATIONS
dc.subjectTERMS OF TRADE
dc.subjectTOTAL EXPORTS
dc.subjectTOTAL EXTERNAL DEBT
dc.subjectTRADE BALANCE
dc.subjectTRADE IMPACT
dc.subjectTRADE PATTERNS
dc.subjectTRADE POLICY
dc.subjectTRADE RESTRICTIVENESS
dc.subjectTRADE SHOCK
dc.subjectTRADING
dc.subjectTRADING PARTNER
dc.subjectTRADING PARTNERS
dc.subjectTRANCHE
dc.subjectTRANSPARENCY
dc.subjectTREASURY
dc.subjectTREASURY BILL
dc.subjectTREASURY BILL RATE
dc.subjectTREATY
dc.subjectTURNOVER
dc.subjectUNCERTAINTY
dc.subjectUNEMPLOYMENT RATE
dc.subjectWEIGHTS
dc.subjectWORKING CAPITAL
dc.subjectWORLD TRADE
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleArmenia : A Cloudy Outlook

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