ArmInfo.The Central Bank of Armenia improved its forecast for GDP growth for 2019 to 5.9-7.4% from the previous 4.6-6.1%. This is set out in the Central Bank’s monetary policy program for the second quarter of 2019, published at the end of June.

ArmInfo.Against the background of political turbulence associated with the "velvet revolution" in April-May 2018, the Armenian banking system demonstrated high reliability, maintaining a previously reached sufficient level of liquidity,  strong capitalization, healthy loan portfolio, substantial deposit  base and moderate profitability, this is stated in the regular  industry research of Armenia's banking system prepared by experts of  AmRating national rating agency in cooperation with European  Rating-Agentur Expert RA GmbH ( https://raexpert.eu/files/Industry_report_Armenia_Banks_27.05.2019.pdf ) As it is noted in the report, the new economic policy of the government, headed by the  leader of the "velvet revolution" and Prime Minister Nikol Pashinyan, differs in many  ways from the former highly corrupt system, which was built up with the existence of  the so-called "shadow economy". The new policy's significant adjustments of ingrained  economic life affected some spheres of the economy and, as a result, influenced to  some extent macroeconomic indicators. 

ArmInfo.The Ministry of Finance of Armenia is working on a legislative initiative involving the revision of property tax. New adjustments are likely to take effect not from  January 2020, as planned earlier, but from January 1, 2021.  Meanwhile, the Tax Code of 2016 envisaged a transition to a new order  from 2019.

ArmInfo.The "Assistance in the management of tax administration and policy" program, which is a continuation of many years of cooperation between the World Bank  (WB), the Government of Armenia and the State Revenue Committee  (SRC), aims to improve the efficiency of tax policy and create a  transparent tax system.

ArmInfo. Armenia's GDP grew in the Q1 of 2019 by 7.1% per annum - to 1.2 trillion drams ($ 2.6 billion), against a higher growth in the Q1 of 2018 - by 9.7% per annum.   According to the data of the RA Statistical Committee, the GDP  deflator index in the Q1 of 2019 was 103.8%, against 104.3% in the Q1  of 2018.

ArmInfo. The IMF approved the  provision of Stand-by loans to Armenia in the amount of about $ 248.2  million. The press service of the Central Bank told ArmInfo that the  Armenian authorities stated that these loans would be considered a  preventive measure and would not be used until There will be no  problems with the balance of payments.

ArmInfo.The European Bank for Reconstruction and Development (EBRD) forecasts 4.5% GDP growth in Armenia in 2019, while maintaining this pace in 2020. This is noted in the May report of the EBRD "Regional Economic Perspectives".  

ArmInfo. Armenia became a member of the International Monetary Fund (IMF) on May 28, 1992. Since then, the IMF has been providing macroeconomic policy advice and assistance to Armenia, including under Fund-supported programs.

ArmInfo.Gross international reserves of Armenia for the Q1 of 2019 amounted to $ 2.151 billion. This is evidenced by the data of the Central Bank of Armenia. Of  these, the lion's share - $ 2.149 billion accounted for external  assets in hard currency, and the share of SDR in the IMF was $ 2.1  million.

ArmInfo. In Armenia, economic activity in Q1 of 2019 compared with Q1 of 2018 increased by 6.5%. According to the final data of the RA Statistical Committee, the  growth sector was the service sector - 17.3%, the construction sector  - 10.8% and the trade sector - 10.1%, against which growth of the  industrial sector looked too modest - 2%, and the agricultural sector  and energy complex showed a decline of 0.2% and 14%, respectively. In  comparison with last year's pace, growth was accelerated in the  service sector, growth slowed down in trade, construction, and the  industrial sector, while the agricultural sector and the energy  complex shifted from growth to recession.

ArmInfo.In Armenia, the economic activity in January-March 2019 compared with January-March 2018 increased by 6.5%. According to preliminary data of the RA  Statistical Committee, the growth sector was made up by the service  sector - 17.3%, the construction sector - 10.8% and the trade sector  - 10.1%, against which growth of the industrial sector looked too  modest - 2%, and the agricultural sector and energy complex showed a  decline of 0.2% and 14%, respectively. In comparison with last year's  pace, growth was accelerated in the service sector, growth slowed  down in trade, construction, and the industrial sector, while the  agricultural sector and the energy complex shifted from growth to  recession.A year earlier, in January-March 2018, by January-March  2017, economic activity increased by 10.6%, amid growing exports by  34.4% and imports by 39%. 

ArmInfo. According to Eurasian Development Bank (EDB) forecasts, GDP growth in Armenia in 2019 will accelerate to 5.3% from actual 5.2% in 2018. This is noted in the  macroeconomic review of Armenia prepared by the Directorate for  Analytical Work of the EDB. For 2020, the EDB predicts a slowdown in  GDP growth to 4.6% with a subsequent acceleration in 2021 to 5.1%.

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".

ArmInfo. In the framework of the plenary meeting of the spring session of the IMF / WB and the annual meeting of 2019 of the Governing Boards of the IMF and the WB Group, a number of meetings were held. The Central Bank's press service told  ArmInfo that Central Bank Chairman Artur Javadyan met with IMF Deputy  Managing Director Tao Zhang, IMF Regional Director for the Middle  East and Central Asia Jihad Azour, IMF Dutch Sub-Group Executive  Director Anthony De Lannoy.

ArmInfo. The IMF improved the 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".

ArmInfo.Head of the Ministry of Economic Development and Investments of Armenia, Tigran Khachatryan, believes that the republic can afford to reconsider the upper  permissible threshold of state debt "if there are plans to spend  loans in areas that guarantee results." He stated this on April 11 in  an interview with journalists.

ArmInfo. The restrictions imposed in 2018 related to the legislative regulation of the ratio of public debt to GDP were not an end in themselves and the revision of these parameters is fraught with consequences. Former Minister of Finance of Armenia Vardan Aramyan expressed this opinion in an exclusive interview with ArmInfo.

ArmInfo. The preliminary results of the ministry's long-term cooperation with the International Monetary Fund (IMF) were presented at the Ministry of Finance of  Armenia.

ArmInfo. Chairman of the State Revenue Committee (SRC) of Armenia David Ananyan considers retail trade to be the most "shadowy"  field of the economy. He stated this on March 29 in an interview with journalists.

ArmInfo.The Central Bank of Armenia forecasts GDP growth for 2019 in the range of 4.6-6.1%. This is set out in the Central Bank's Monetary Policy Program for the Q1  of 2019, published at the end of March.