Fiscal Balance in Armenia

Armenia Fiscal Balance | Economic News & Forecasts

Armenia - Fiscal Balance

Incoming data suggests that growth softened towards the end of the second quarter, after a solid first quarter and opening months of Q2. Economic activity grew at the slowest pace in eight months in June amid slower services and construction activity. In addition, export growth slowed notably in the same month, while imports rebounded solidly. Meanwhile, on 11 July, Prime Minister Nikol Pashinyan announced that pensions would be increased by 10% at the start of 2020, which should boost consumption. However, there are some concerns over the government’s finances as it was not revealed where the funding for this would come from. The government has been on a notable reform drive this year, including passing a tax reform package at the end of June.

Armenia - Fiscal Balance Data

2013  2014  2015  2016  2017  
Fiscal Balance (% of GDP)-1.6  -1.9  -4.8  -5.5  -4.8  

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Note: Fiscal balance as % of GDP
Source: Ministry of Finance of the Republic of Armenia

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