The IMF has concluded the first overview of the anti-crisis economic
program of Armenia. Yerevan may receive a loan equal to $115.2
million. The overview was made using a simplified procedure which
excludes formal discussions of the program, ITAR-TASS reports.
IMF has also informed about the results of the annual overview of
Armenian economy. The fund sees slow improvements in the economy. The
GDP will increase by 4% in 2010 and by 4.6% in 2011.
NEWS.am had reported earlier that the previous forecasts published in
July this year predicted a GDP growth of 4.8% and price increase of
6.2%.
In September, an IMF official in Armenia Guillermo Tolos criticized
the tax policy in Armenia, especially the high VAT. On September 29 he
noted at a press-conference in Yerevan that they were discussing the
reason for high debt with the government. Guillermo's conclusion is
poor export policy.
He also said that minor countries, such as Armenia, with a population
of 3 million, should not base economy on interior demands only, it
needs action in the exterior market.
