Armenia's strong economic growth from 2001-2008, when real gross domestic product (GDP) grew 12.6 percent per year on average, boosted living standards and created the fiscal headroom necessary for the Government to respond to the 2009 financial crisis with a large fiscal stimulus. As a result, the fiscal deficit reached 7.6 percent in 2009 and helped limit the contraction in real GDP to 14 percent. With the economy growing again, the stimulus has...
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详细
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2012/02/01
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简介
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67969
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1
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1
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2012/09/24
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Disclosed
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Fiscal consolidation and recovery in Armenia
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borrowing requirements