Current Account in Armenia

Armenia Current Account | Economic News & Forecasts

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  

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Armenia Current Account Chart

Armenia Current Account
Note: Current account balance as % of GDP.

Armenia Facts

Stock Market0.10.0 %Jul 11

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