ArmInfo.The International Monetary Fund is ready to assist Armenia in the implementation of the reform programs proposed by the government of the country, the Director of the Middle East and Central Asia Department of the IMF Jihad Azour said answering the question "Voices of America".
According to him, the RA government will present a five-year program of strategic cooperation to the Fund, which will be based on two fundamental principles - the program of tax reforms, which will make taxes more transparent and understandable for business, and raising the role of the private sector and investment in the country's economy. "If everything goes the right way, the IMF will provide technical assistance in implementing the reforms that will become the main pillar both for fiscal stability and for developing the growth potential of Armenia," Jihad Azour said . Pointing to the steps taken by Armenia, he stressed the need to ensure consistency of reforms. "It is very important for Armenia to continue reforms, develop a management system, improve the business environment, ensure macroeconomic stability. We expect the growth of the Armenian economy this year to be 4.6%, and in 2020 - 4.5%, which is slightly less than in 2018, but in fact it is a very positive growth, " Jihad Azour stated.
In turn, Deputy Prime Minister Mher Grigoryan, who these days took part in the annual meeting of the World Bank and the International Monetary Fund, said in an interview with Voice of America that the Armenian side intends to submit a five-year program for approval by the IMF Board of Directors on May 17. According to Grigoryan the cooperation of Armenia with the World Bank and the IMF is developing to the extent that fits into the program of the RA government. He added that Armenia's cooperation with the WB will be implemented in areas such as human capital development and export, while cooperation with the IMF will be carried out around tax administration and investment growth. "The IMF improved its forecast for GDP growth in Armenia for 2019 from the previous 4.5% to the current 4.6%, expecting a slowdown in 2020 to 4.5%. This is stated in the IMF April report "World Economic Outlook: Growth Slowdown, Precarious Recovery". According to the current account deficit of Armenia, the IMF expects 4.6% of GDP in 2019 and 4.3% of GDP in 2020. Inflation in Armenia, according to a new IMF forecast, will make 2.1% in 2019, and 3% in 2020. The IMF expects a decrease in unemployment in Armenia from 17.9% in 2019 to 17.7% in 2020.