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Republic of Armenia: Request for a Stand-By Arrangement-Press Release; Staff Report; and Statement by the Alternate Executive Director

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  • International Monetary Fund

Abstract

The economy has maintained a strong momentum, driven by robust consumption and a surge in inflows of income, capital, business, and labor. Inflation has increased markedly due to the sharp rise in food and energy prices and the booming economy, but proactive monetary policy tightening and GDP growth deceleration are projected to bring inflation down in 2023. While robust growth should continue over the medium-term, uncertainty is elevated and downside risks are significant due to the ongoing war in Ukraine and sanctions on Russia, global financial tightening, slowdown in major trading partners, and high food and energy prices. Structural challenges also remain, including high unemployment, weak business environment, and low productivity growth.

Suggested Citation

  • International Monetary Fund, 2022. "Republic of Armenia: Request for a Stand-By Arrangement-Press Release; Staff Report; and Statement by the Alternate Executive Director," IMF Staff Country Reports 2022/366, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2022/366
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    Keywords

    keeping inflation expectation; Armenian authorities; IMF arrangement; inflation expectation; labor market outcome; structural reform agenda; Inflation; Global;
    All these keywords.

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