Republic of Armenia - Fiscal Consolidation and Recovery : Synthesis Report

Republic of Armenia - Fiscal Consolidation and Recovery : Synthesis Report

Armenia's structural reforms since 1999 have led to a strong economic record, including low fiscal deficits and declining public debt over the pre-crisis decade. Between 2001 and 2008 Gross Domestic Product (GDP) grew at an average annual rate...

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Bibliographic Details
Main Author:	World Bank
Format:	Other Public Sector Study
Language:	English
Published:	World Bank 2012
Subjects:	ALLOCATION ANALYTICAL CAPACITY ANNUAL RATE ARREARS ASSET MANAGEMENT ASSET VALUE AUTOMATIC STABILIZERS BASELINE SCENARIO BUDGET ALLOCATION BUDGET CONSTRAINT BUDGET DEFICITS CAPITAL EXPENDITURE CENTRAL BANK CENTRAL GOVERNMENT CHECKS COMPENSATORY POLICY COMPLIANCE COST COMPLIANCE COSTS CONSOLIDATION PROCESS CONTINGENT LIABILITIES CORPORATE INCOME TAX CREDIT FACILITY CREDITORS CREDITWORTHINESS CURRENCY CURRENT ACCOUNT DEFICIT DATA COLLECTION DEBT DEBT ACCUMULATION DEBT BURDEN DEBT DYNAMICS DEBT LEVEL DEBT MANAGEMENT DEBT OBLIGATIONS DEBT RATIO DEBT RATIOS DEBT REDUCTION DEBT SERVICE DEBT SERVICING DEBT SUSTAINABILITY DEFICIT FINANCING DEFICIT REDUCTION DEVELOPMENT BANK DOMESTIC CURRENCY DOMESTIC DEBT DOMESTIC MARKET ECONOMIC CLASSIFICATION ECONOMIC CYCLE ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC POLICIES ECONOMIC RECOVERY ECONOMIC SHOCKS EDUCATION EXPENDITURES EDUCATION SPENDING EDUCATION SYSTEM EFFICIENCY GAINS ENFORCEMENT PROCESS ENTRY BARRIERS EXCHANGE RATE EXCHANGE RATE MOVEMENTS EXPENDITURE EXPENDITURE ANALYSIS EXPENDITURE CUTS EXPENDITURE PRIORITIES EXPENDITURE RATIONALIZATION EXPENDITURES EXTENDED FUND FACILITY EXTERNAL BORROWING EXTERNAL DEBT EXTERNAL DEFICIT EXTERNAL DEFICITS EXTERNAL FINANCING EXTERNAL SHOCKS FINANCIAL ASSET FINANCIAL CRISIS FISCAL AFFAIRS FISCAL BALANCE FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL DEFICITS FISCAL FRAMEWORK FISCAL FRAMEWORKS FISCAL IMPACT FISCAL POLICY FISCAL RETRENCHMENT FISCAL STANCE FISCAL SUSTAINABILITY FOREIGN CURRENCY FOREIGN DEBT FOREIGN EXCHANGE FOREIGN INVESTORS FORMAL ECONOMY FRAUD GLOBAL ECONOMY GOVERNMENT EMPLOYMENT GOVERNMENT FINANCE GOVERNMENT FINANCE STATISTICS GOVERNMENT FINANCES GROSS DEBT GROSS DOMESTIC PRODUCT HEALTH CARE HEALTH EXPENDITURE HEALTH EXPENDITURES HEALTH OUTCOMES HEALTH SERVICES HEALTH SPENDING HUMAN CAPITAL HUMAN RESOURCE IMPLICIT TAX INCOME LEVELS INCOME STREAM INCOME TAX INDEBTEDNESS INFLATION INFORMATION FLOW INFORMATION SYSTEM INFRASTRUCTURE EXPENDITURE INITIAL DEBT INSTRUMENT INTEREST PAYMENT INTEREST PAYMENTS INTEREST RATES INTERNATIONAL FINANCE INTERNATIONAL STANDARDS LEVEL OF DEBT LIABILITY LIQUIDITY LIQUIDITY PROBLEM MACROECONOMIC FRAMEWORK MACROECONOMIC SITUATION MEDIUM TERM EXPENDITURE MEDIUM TERM EXPENDITURE FRAMEWORK MINISTRY OF FINANCE MONETARY FUND NATIONAL INCOME NATURAL RESOURCES NEGATIVE EXTERNALITIES NET PRESENT VALUE OPPORTUNITY COSTS PENSIONS PERSONAL INCOME PERSONAL INCOME TAX POSSIBILITY OF DEFAULT POVERTY REDUCTION POVERTY REDUCTION STRATEGY POVERTY-REDUCING EXPENDITURES PRIVATE INVESTMENT PROGRAMS PRUDENT FISCAL MANAGEMENT PUBLIC DEBT PUBLIC DEBT STOCK PUBLIC EMPLOYMENT PUBLIC EXPENDITURE PUBLIC EXPENDITURE REVIEW PUBLIC EXPENDITURES PUBLIC FINANCES PUBLIC REVENUE PUBLIC SECTOR PUBLIC SECTOR DEBT PUBLIC SERVICE PUBLIC SERVICES PUBLIC SPENDING QUALITY OF EDUCATION REAL GROWTH REAL INTEREST REAL INTEREST RATE REMITTANCES REPAYMENT REPAYMENT CAPACITIES REPAYMENT CAPACITY REPAYMENTS RESERVE RETURN RETURNS REVENUE INCREASES ROAD MAINTENANCE ROAD NETWORK ROAD TRANSPORT SAFETY NET SAFETY NETS SHARE OF INVESTMENTS SHORT MATURITY SHORT-TERM DEBT SMALL BUSINESSES SOCIAL CONTRIBUTIONS SOCIAL PROTECTION SOCIAL PROTECTION EXPENDITURES SOCIAL SECURITY SOCIAL WELFARE SOLVENCY SOVEREIGN DEBT STRUCTURAL REFORMS SUSTAINABILITY ANALYSIS SUSTAINABLE FISCAL POLICY TAX TAX ADMINISTRATION TAX BASE TAX CODE TAX COLLECTION TAX EXPENDITURE TAX EXPENDITURES TAX LAW TAX PAYMENTS TAX POLICY TAX POLICY ANALYSIS TAX RATE TAX RATES TAX REFORM TAX REGIME TAX REVENUE TAX REVENUES TAX SYSTEM TAXPAYERS TOTAL EXPENDITURE TRADE BALANCE TURNOVER TURNOVERS
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20111214222114 http://hdl.handle.net/10986/2807

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http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000333038_20111214222114
http://hdl.handle.net/10986/2807