Investor Presentaiton
KEY INVESTMENT HIGHLIGHTS
DEMONSTRATED
COMMITMENT TO REFORMS
GROWTH SUPPORTED BY
PRUDENT MACROECONOMIC
POLICY FRAMEWORK
FISCAL CONSOLIDATION AND
PROACTIVE DEBT
MANAGEMENT
PROACTIVE GOVERNMENT
MEASURES TO CONTAIN
COVID-19
STRONG AND MULTI-FACETED
SUPPORT FROM
DEVELOPMENT PARTNERS
The Government continues to pursue
structural reforms with renewed
emphasis on productivity,
inclusiveness and governance as well
as anticorruption and judicial systems
Anchoring fiscal policy to maintain
debt sustainability, and creating
space for social and capital
infrastructure spending
Implementing the large-scale
Programme for Legal and Judicial
Reforms for 2019-2023, which
includes addressing corruption,
assuring the independence of the
judiciary and improving the training of
the judges
Successful macroeconomic policies
and structural reforms have buoyed
Armenia's growth potential
Armenia has a robust medium-term
growth outlook, underpinned primarily
by services (e.g. finance, ICT,
tourism) and industry (e.g.
manufacturing, mining)
The short and medium-term fiscal
policy is targeting full and broad
based recovery of Armenian
economy and boosted growth
potential with significantly larger
public investments in physical
infrastructure and human capital.
Fiscal consolidationin based on newly
adopted fiscal rules during 2018-2019
driven by both revenue mobilization
and spending optimization has
created fiscal buffers, which
supported to effective counter-cyclical
fiscal policy reaction during COVID-
19 and war shocks of 2020, which the
Armenian economy has faced.
Fiscal policy is targeting also
strengthened fiscal sustainability with
reduction of public debt in line with
the fiscal rule, and thus achieving
growth-friendly fiscal consolidation as
a result.
The government has taken proactive
fiscal measures amounting to 2.7% of
2020 GDP that were well-targeted at
the most impacted sectors and
segments of the population in order to
cushion the impact of the Covid-19
shock
Since 2017, Armenia has
progressively consolidated its
relationship and cooperation with the
European Union ("EU"), resulting in
the alignment of several standards,
technical assistance and preferential
trade access for 90% of Armenia's
exports to the EU
Armenia also benefits from an IMF
Standby Agreement facility aimed at
supporting Armenian authorities in
strengthening economic
fundamentals and policy frameworks
Armenia also benefits from strong
international partnerships with the
World Bank, Asian Development
Bank, KfW and the United States
Agency for International Development
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