Current Account in Armenia
Armenia - Current Account
Growth jumped in the first quarter, boosted by soaring household consumption on the back of rising wages and robust credit growth. Available data for the second quarter points to continued solid momentum. Economic activity grew robustly in April–May, supported by a double-digit expansion in industrial output and solid services’ sector activity, while exports returned to growth in the same period after having contracted throughout Q1. Meanwhile, on 25 June, the government passed the tax reform package. Notably, the income tax will change from a progressive system to a flat rate starting in 2020. The move should translate into a marked tax cut for higher earners and should help increase compliance. However, it is also expected to weigh on tax revenue and could worsen income inequality.Armenia - Current Account Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -7.3 | -7.6 | -2.7 | -2.0 | -3.0 |
Armenia Current Account Chart
Armenia Facts
| Value | Change | Date | |
|---|---|---|---|
| Stock Market | 0.1 | 0.0 % | Jul 11 |
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