{"id":28350,"date":"2011-10-18T13:52:55","date_gmt":"2011-10-18T13:52:55","guid":{"rendered":"https:\/\/armbanks.am\/2011\/10\/18\/233940\/"},"modified":"2024-12-15T12:53:19","modified_gmt":"2024-12-15T12:53:19","slug":"wb-experts-find-post-crisis-situation-in-armenia-quite-stable","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2011\/10\/18\/28350\/","title":{"rendered":"WB experts find post-crisis situation in Armenia quite stable"},"content":{"rendered":"

YEREVAN, October 18. \/ARKA\/. <\/strong>Despite the heavy crisis that have affected all the countries, Armenia\u2019s position remained quite stable,\u00a0 Yvonne Tsikata,\u00a0 Sector Director of the Poverty Reduction and Economic Management (PREM) Unit of the World Bank Europe and Central Asia (ECA) region, said Tuesday at a news conference presenting the World Bank\u2019s report on Armenia\u2019s public expenditure, tax and budgetary consolidation and recovery.<\/p>\n

She said this had given Armenia an opportunity to introduce a fiscal stimulation package that made it possible to mitigate or in some way prevent adverse consequences of the crisis.<\/p>\n

Tsikata said that these efforts should be continued to prepare the country for probable future impacts of the crisis.<\/p>\n

The WB has prepared this report jointly with Armenian finance ministry and the state revenue committee.<\/p>\n

The report briefly presents macroeconomic situation in Armenia and analyses latest developments related to the country\u2019s foreign debt and their impacts on tax and budgetary consolidation putting special emphasis on the necessity to enlarge revenue and enhance effectiveness of expenses.<\/p>\n

Vache Gabrielyan, speaking at the same news conference, said that this is the second report of this kind in Armenia\u2019s history \u2013 the first that released in early 2000s has had significant influence on further policy.<\/p>\n

\u201cWe find the document that is being discussed now in draft version very important,\u201d he said.<\/p>\n

The report estimates the country\u2019s revenue capacity, which the government can use by improving tax administration and tax policy.<\/p>\n

The report also contains a detailed analysis of effectiveness of expenses in transport sector and in the fund salaries in education, healthcare and public services areas in terms of retaining stable growth and reducing poverty.<\/p>\n

Taking into account that Armenia formed a wide tax-budgetary deficit and low level of state debt while resisting the crisis, it can be stated that the country is in need of tax-budgetary consolidation, which however shouldn\u2019t be ensured at the account of stable economic growth. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"

WB experts find post-crisis situation in Armenia quite stable.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15837,12688,12182,12318],"class_list":{"0":"post-28350","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy-en","7":"category-news","8":"tag-armenia-2","9":"tag-armenia-analyst-inflation","10":"tag-crisis","11":"tag-wb"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/28350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=28350"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/28350\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=28350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=28350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=28350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}